Posted on 12/24/2023 at 7:50 pm Manchester United / Disclosure Posted by Edvaldo Sales
Billionaire Jim Radcliffe has bought a 25% stake in Manchester United, the club announced this Sunday (24). The Englishman, owner of petrochemical company Ineos and Britain's richest man, bought the shares for 1.25 billion pounds, about R$7.7 billion.
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With the investment, he will gain full control of the Red Devils' football department. According to a published report, there will still be an investment of R$1.4 billion in renovations at Old Trafford Stadium.
The Glazer family is a major shareholder in Manchester United, but is losing power in football. The team were eliminated in the group stage of the Champions League and are eighth in the Premier League.
Radcliffe revealed that he was “delighted to have reached this agreement with the management of Manchester United, who have entrusted us with the responsibility of managing the club's football”.
Despite being commercially successful and always guaranteeing us the funds to win titles at the highest level, this potential has not been achieved in recent times.
The transaction still needs to be approved by the Premier League and other UK regulatory bodies.
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Henry Blackwell is a contributor at Mediarunsearch.co.uk, covering a wide range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. He focuses on delivering clear, balanced reporting and useful information that helps readers stay informed about current events and emerging developments. His work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism.