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, could be financed by the billionaire personally.
Ineos Chair Jim Ratcliffe will pledge to make investments 245 million kilos ($302.1 million) in Manchester United’s infrastructure, in addition to his about $1.5 billion provide to purchase a 25% stake in the soccer membership, Sky News reported on Friday.
The funding, supposed for upgrading the membership’s ageing infrastructure, could 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 information.
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 had been his bid for the long-lasting 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, advised the Glazers final month he wouldn’t elevate the bid past the $6 billion he has provided, in accordance to sources.
The American Glazer household in November final 12 months stated it was taking a look at choices for the 20-occasions English soccer champions together with a brand new funding or a possible sale.
(This story has not been edited by News18 employees and is printed from a syndicated information company feed – Reuters)
