A deal to become a minority shareholder in Manchester United by Sir Jim Ratcliffe is expected to be agreed during this month’s international break.
It is expected Ratcliffe’s Ineos Group will pay around £1.25bn to buy 25% of the club.
Petrochemicals firm Ineos already owns French Ligue 1 club Nice and Swiss club Lausanne.
Its sporting portfolio also includes high-profile sailing team Ineos Britannia – led by Sir Ben Ainslie – which is aiming to win the 2024 America’s Cup for Great Britain.
Ineos also has a five-year partnership with Formula 1 team Mercedes, owning a third of the team – and took over the British-based Team Sky in cycling in 2019.
United’s owners the Glazer family announced on 22 November 2022 they were considering selling the club.
Ineos and Qatari banker Sheikh Jassim bin Hamad Al Thani both made offers, tabling bids of around £5bn.
However, neither bidder was willing to reach the Glazer family’s valuation, with co-chairs Joel and Avram Glazer both known to be reluctant sellers.
Ratcliffe had already amended his initial plan to buy the Glazers’ 69% shareholding and reduced it to a ‘majority’ stake after Sheikh Jassim withdrew from the process last month.
Kazeem Badmus is a graduate of Mass Communication with years of experience. A professional in journalism and media writing, Kazeem prioritses accuracy and factual reportage of issues. He is also a dexterous finder of the truth with conscious delivery of unbiased and development oriented stories.