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British billionaire Sir Jim Ratcliffe has agreed to buy a 25% stake worth about £1.25 billion ($1.3 billion) in Manchester United soccer club, the BBC reported Sunday.
The deal is expected to value Manchester United at more than $6 billion, including debt.
Dec 24 (Reuters) - Ineos Chief Executive Jim Ratcliffe's push to purchase a $1.3 billion stake in soccer club Manchester United (MANU.N) has been hampered by concerns over the future treatment of minority shareholders, the Financial Times reported on Sunday, citing two people with knowledge of the matter.
Manchester United's Ratcliffe saga continues as billionaire still ‘in limbo' over stake, report says
The saga of Sir Jim Ratcliffe's Manchester United stake continues amid reports that the British billionaire's deal for a 25% stake may not happen this week, despite recent talk that an agreement was imminent.
French football club Paris Saint Germain (PSG) has been valued at around €4.25bn following the disposal of a minority stake by Qatari owner QSI. In another deal highlighting the scramble for top sports franchises, US hedge fund Arctos is buying 12.5% of PSG and though the financial details were not released numerous sources said the deal values the club at €4.25bn (£3.45bn) implying a cost of around €530m.
British billionaire Sir Jim Ratcliffe is set to clinch his 25% stake in Manchester United next week, according to reports.
Manchester United PLC (NYSE: MANU) is in focus this morning following a report that it will confirm its much-anticipated deal with billionaire Jim Ratcliffe next week. Ratcliffe to secure a 25% stake in Man United On Monday, Sky News said that the founder and chief executive of INEOS Group will pay £1.25 billion ($1.
Sir Jim Ratcliffe is poised to acquire a 25% stake in Manchester United Plc (NYSE:MANU) in a much-anticipated £1.25 billion deal as early as next week, according to a Sky News report. The transaction, which will see Ratcliffe's Ineos Sports taking two boardroom seats at Old Trafford, includes a $33-a-share tender offer to acquire 25% of the club's listed A-shares and 25% of the B-shares from the club owners the Glazer family.
Manchester United will next week announce that U.K. petrochemicals billionaire Jim Ratcliffe will take a 25% stake in the football club, Sky News said Monday.
Stocks are down today but it's not due to any negative news affecting the market on Friday! Instead, the stock market is simply retreating after undergoing a recent rally throughout this week.