Billionaire Ratcliffe to invest £245 million in Manchester United: Sky News
INEOS chair Jim Ratcliffe will pledge to invest £245 million (S$410 million) in Manchester United’s infrastructure, in addition to his about US$1.5 billion offer to buy a 25 per cent stake in the soccer club, Sky News reported on Friday (Nov 3).
The investment, intended for upgrading the club’s ageing infrastructure, would be financed by the billionaire personally and not add to Premier league club’s existing borrowings, the report said, citing sources.
Shares in Manchester United rose 4 per cent to US$18.85 on the news.
Manchester United declined to respond to a Reuters request for comment.
Reuters in October reported that Ratcliffe would pay over US$1.5 billion for a 25 per cent stake in Manchester United were his bid for the iconic soccer club to be accepted by the Glazer family that controls it, citing a person familiar with the matter.
Qatar’s Sheikh Jassim bin Hamad al Thani, the other potential bidder, told the Glazers last month he would not raise the bid beyond the US$6 billion he has offered, according to sources.
The American Glazer family in November last year said it was looking at options for the 20-times English soccer champions including a new investment or a potential sale. REUTERS
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