Ratcliffe seals £1bn deal for 25% of Manchester United

Sir Jim Ratcliffe has completed a £1bn purchase of a 25% minority stake in Manchester United , taking control of the club's football operations. The British billionaire, founder of petrochemicals firm INEOS , is adding a further $300m (£237m) for infrastructure investment at Old Trafford.

The debt-free transaction, made through Ratcliffe's Trawlers Limited, is subject to Premier League approval and hands INEOS two board seats. Ratcliffe said the deal "delegates us management responsibility of the football operations of the club."

The Glazer family, which had signalled a strategic review, decided against a full sale and retains majority control. The deal followed the withdrawal of Qatari banker Sheikh Jassim bin Hamad al-Thani, who had offered £5bn for the club outright.

INEOS sporting director Sir Dave Brailsford is set for a prominent role in football operations, with the group expected to reshape senior management. Ratcliffe, who also owns French club Nice, Swiss side Lausanne, and the INEOS Grenadiers cycling team, framed the move as a long-term bet: "We are here for the long term and recognise that a lot of challenges and hard work lie ahead." The Glazers said INEOS brings "a wealth of commercial experience as well as significant financial commitment."