Sir Jim Ratcliffe’s deal to buy a 25% stake in Manchester United has been completed.
The British billionaire’s purchase is worth about $1.3bn (£1.03bn).
The Glazer family, who have owned the 20-time English champions since 2005, will retain a majority stake in the club but Ratcliffe’s Ineos Group will take control of football operations.
“To become co-owner of Manchester United is a great honour and comes with great responsibility,” said Ratcliffe.
“This marks the completion of the transaction, but just the beginning of our journey to take Manchester United back to the top of English, European and world football, with world-class facilities for our fans.
“Work to achieve those objectives will accelerate from today.”
More to follow.
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