Manchester United sells 25 percent of the club
Manchester United, one of the English Premier League teams, has announced that an agreement has been reached with British businessman Jim Ratcliffe for the sale of 25 percent of the club.
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Ratcliffe, the founder of the petrochemical company INEOS, who purchased a 25 percent stake in the club for 1.25 billion pounds, will also have a say in the control of football operations.
The 71-year-old Ratcliffe will also provide 236 million pounds in funding for investments to be made in Old Trafford Stadium. The American Glazer family had purchased the club in 2005 for 790 million pounds.