MANCHESTER, England (AP) — British billionaire Jim Ratcliffe has finally got his hands on Manchester United after securing a stake of up to 25 per cent in the Premier League club.
Ratcliffe’s interest in sports — and football in particular — is long-standing. The 71-year-old owner of petrochemicals giant has been a United fan since childhood, and supporters will like his stated ambitions.
“We all want to see Manchester United back where we belong, at the very top of English, European and world football,” Ratcliffe said Sunday after a deal, subject to Premier League approval, was confirmed following lengthy negotiations with the Glazer family, United’s American owners.
The announcement comes after moves elsewhere in European football that could have seen Ratcliffe take control of one of United’s main Premier League rivals as recently as last year.
Ratcliffe, one of the richest people in Britain, had initially looked to buy the Glazers’ controlling stake of around 69 per cent, but eventually agreed to become a minority shareholder.
He had to see off competition from Qatari banker Sheikh Jassim bin Hamad Al Thani, who withdrew in October from the bidding process after failing to agree a deal for a complete takeover.
