Published By: Ritayan Basu
Last Updated: November 03, 2023, 21:02 IST
Jim Ratcliffe at Manchester United’s Old Trafford (Twitter)
Jim Ratcliffe will make investments 245 million kilos to improve Manchester United’s ageing infrastructure, can be financed by the billionaire personally.
Ineos Chair Jim Ratcliffe will pledge to take a position 245 million kilos ($302.1 million) in Manchester United’s infrastructure, along with his about $1.5 billion supply to purchase a 25% stake within the soccer membership, Sky News reported on Friday.
The funding, supposed for upgrading the membership’s ageing infrastructure, can be financed by the billionaire personally and never add to Premier league membership’s current borrowings, the report stated, citing sources.
Shares in Manchester United rose 4% to $18.85 on the news.
Manchester United declined to reply to a Reuters request for remark.
Reuters in October reported that Ratcliffe would pay over $1.5 billion for a 25% stake in Manchester United have been his bid for the enduring soccer membership to be accepted by the Glazer household that controls it, citing an individual accustomed to the matter.
Qatar’s Sheikh Jassim bin Hamad al Thani, the opposite potential bidder, instructed the Glazers final month he wouldn’t elevate the bid past the $6 billion he has supplied, based on sources.
The American Glazer household in November final yr stated it was taking a look at choices for the 20-times English soccer champions together with a brand new funding or a possible sale.
(This story has not been edited by News18 employees and is revealed from a syndicated news company feed – Reuters)
Ritayan BasuRitayan Basu, Senior Sub-Editor, Sports at News18.com, covers badminton and cricket however soccer stays his forte. Follow him at @ritayanbasu…Read More
Source: www.news18.com
