Sir Jim Ratcliffe’s deal to purchase 25 per cent of Manchester United will be confirmed on Christmas Eve, Sky News has learned.
An announcement will be made later on Sunday which will bring an end to 13 months of talks about a potential takeover of the Old Trafford club.
Sources said that United and Ratcliffe’s Ineos Sport would confirm that he is acquiring the interest for $33-a-share, confirming a report last month by Sky News.
The deal, which will come amid a torrid season for United on the pitch, will see Ratcliffe take control of the club’s footballing affairs once it is approved by the Premier League – a process expected to take between six and eight weeks.
He will inject $300m (£245m) into the club for investment in its infrastructure, taking his immediate outlay to roughly $1.5bn (£1.2bn).
Ratcliffe may also join the United board.
More to follow….
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