UK 'Billionaire' Ratcliffe Acquires 25% Stake in Man Utd

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British billionaire Jim Ratcliffe (71) has acquired a 25% stake in English professional football club Manchester United (Man Utd). On the 25th (Korean time), Man Utd announced, "Ratcliffe has agreed to acquire up to a 25% stake in the company." Ratcliffe will acquire 25% of Man Utd's Class B shares and up to 25% of Class A shares held by the Glazer family.

[Image source=Yonhap News]

Ratcliffe is the founder of the global chemical group INEOS. The transaction is expected to be completed after going through the relevant procedures, including those of the Premier League (PL). Additionally, Ratcliffe plans to invest $300 million (approximately 390.9 billion KRW) separately in Old Trafford, Man Utd's home stadium.

Man Utd was acquired by American sports tycoon Malcolm Glazer in 2005. Last year, the Glazer family declared a de facto sale, stating, "We have decided to seek strategic alternatives for the future of the club." Ratcliffe's acquisition of shares is part of the Glazer family's process of stepping away from Man Utd.

This season, Man Utd is currently 8th in the PL with 9 wins, 1 draw, and 8 losses. Ratcliffe expressed his enthusiasm, saying, "As a 'local boy' and lifelong supporter of the club, I am very pleased to agree to this deal," and added, "We all want to see Man Utd return to the top of English, European, and world football." Ratcliffe was born in Pailsworth, Greater Manchester, England.

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