Sir Jim Ratcliffe strikes deal to acquire minority stake in Man Utd

The British billionaire now controls football operations at the Premier League club and has spent roughly £1.25 billion.

Part of the agreement states Ratcliffe will provide a $300 million (£236 million) fund for investment into the infrastructure at Old Trafford.

At $33 (a little over £26) per share value for a 25% stake, Man Utd have been given an enterprise value of $6.3 billion (just under £5 billion).

Upon confirmation of the deal, Ratcliffe said: "As a local boy and a lifelong supporter of the club, I am very pleased that we have been able to agree a deal with the Manchester United board that delegates us management responsibility of the football operations of the club.

"Whilst the commercial success of the club has ensured there have always been available funds to win trophies at the highest level, this potential has not been fully unlocked in recent times.

"We will bring the global knowledge, expertise and talent from the wider INEOS Sport group to help drive further improvement at the club, while also providing funds intended to enable future investment into Old Trafford.

“We are here for the long term and recognise that a lot of challenges and hard work lie ahead, which we will approach with rigour, professionalism and passion. We are committed to working with everyone at the club – the board, staff, players and fans – to help drive the club forward. 

“Our shared ambition is clear: we all want to see Manchester United back where we belong, at the very top of English, European and world football.”

Ratcliffe's group have extensive involvement in sport, owning Ligue 1 club Nice and Swiss side Lausanne-Sport, as well as the INEOS Grenadiers cycling team.

Man Utd are next in action against high-flying Aston Villa at home on Boxing Day.