The English Premier League has approved British billionaire Jim Ratcliffe’s purchase of a 25 percent stake in Manchester United.
United are still awaiting Football Association approval for the deal, which Ratcliffe said could be completed by mid-February and will give him control of football operations at Old Trafford.
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It was announced on Christmas Eve that INEOS chairman Ratcliffe had agreed to buy a 25 percent stake in United from unpopular owners, the Glazer family, in a deal worth around £1.02 billion.
Mr. Ratcliffe will also invest a further £238 million in the club’s infrastructure.
