Sir Jim Ratcliffe’s $1.3billion minority investment in Manchester United is finally complete and the INEOS-led era is officially under way.
As part of the deal, Ratcliffe will also invest a further $300million (£238m) in the club by purchasing newly issued shares.
This $300m investment will eventually see Ratcliffe’s stake increase to 29 per cent, while the money itself is intended to be put to the redevelopment of Old Trafford.
That much was confirmed by the 241-page filing to the U.S. Securities and Exchange Commission (SEC) published on Boxing Day, which outlined the terms of Ratcliffe’s deal.
Sir Jim Ratcliffe is investing his money into Manchester United (Valery Hache/AFP via Getty Images)
However, the SEC filing also said that the $300m may be used in the club’s “ordinary course of business”, opening up the possibility of the funding being spent in other areas if…
