INEOS's Ratcliffe agrees deal to buy 25 percent of Man Utd

INEOS chairman Jim Ratcliffe has agreed a deal to buy 25 percent of Manchester United for about £1.25 billion and will take control of the Premier League club's football operations, it was announced on Sunday.

He will also provide $300 million for future investment into the club's Old Trafford stadium. A club statement said, Ratcliffe will acquire 25 percent of the Class B shares held by the owners, the Glazer family, and up to 25 percent of the Class A shares. As part of the transaction, INEOS has accepted a request by the board to be delegated responsibility for the management of the club's football operations.