INEOS Chairman Jim Ratcliffe has become a minority shareholder in Manchester United, buying a 25% stake for $33 per share, the Premier League soccer club said on Sunday, following a bidding process that lasted more than 12 months.
Qatar’s Sheikh Jassim bin Hamad al Thani was also looking to buy the club but dropped out of the process, saying he would not be raising his $6 billion offer, leaving the British billionaire to strike a deal with the owners, the Glazer family.
Ratcliffe’s INEOS will also take on the management of Manchester United’s soccer operations and invest $300 million in the club.
