British billionaire Sir Jim Ratcliffe is set to complete a deal for an initial 25% stake in Manchester United, according to The Times’ Matt Lawton and Matt Dickinson.
The agreement, believed to be worth up to £1.3 billion, is expected to be ratified at a board meeting in the coming days and follows Sheikh Jassim bin Hamad Al Thani’s withdrawal from the sale process.
Ratcliffe’s offer allows the Glazers to retain a stake in the club. However, the founder of INEOS, a petrochemicals company that already owns French outfit Nice, eventually intends to complete a full takeover, Lawton and Dickinson report.
