British billionaire Sir Jim Ratcliffe has received approval from the Premier League Board for his acquisition of a 25% stake in Manchester United FC, alongside a $300 million investment in the club.Â
This follows the completion of the Owners’ and Directors’ Test (OADT). The club’s board recently agreed to alter its ownership structure, a decision clarified by an independent oversight panel.
Sir Jim Arthur Ratcliffe, born in 1952, is a British billionaire, renowned engineer, and businessman. He is the founder and CEO of the INEOS chemicals group, which he founded in 1998. The company is estimated to have had a turnover of $65 billion in 2021, according to his Wikipedia profile.
