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Ratcliffe Man Utd deal approved by FA & Premier League

Sir Jim Ratcliffe’s deal to buy a 25% stake in Manchester United has been approved by the Football Association and Premier League.

The British billionaire’s purchase is worth about $1.3bn (£1.03bn).

Owners the Glazer family will retain a majority stake in the club but Ratcliffe’s Ineos Group will take control of football operations.

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The sale cannot be completed until after the share offer is closed, which is Friday night in the United States.

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Premier League approval is contingent on the deal being completed.

Ratcliffe’s deal was agreed on Christmas Eve and also includes $300m (£236m) for future investment in the club’s Old Trafford stadium.

 

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