MANCHESTER UNITED’s share price has soared after the confirmation of Sir Jim Ratcliffe’s investment in the club.
The British billionaire purchased 25 per cent of the football club, with the deal being announced on Sunday.
PASir Jim Ratcliffe has purchased 25 per cent of Manchester United[/caption]
GettyThe Glazers wanted £5billion for the whole club[/caption]
Ratcliffe’s INEOS Group purchased shares at £26 each, which values the Red Devils at a total of £4.96billion.
The Daily Mail have claimed that the valuation includes the debt that the club currently owes.
As a result of Ratcliffe’s arrival at the club, the share value has already increased.
The share price jumped up by 4 per cent thanks to Ratcliffe’s purchase.
The rise has seen the valuation jump to almost £5bn, the original price that the Glazers wanted for the entire club.
Ratcliffe and INEOS will take control of the sporting operations from the hands of the Glazer family.
It is thought that the partial takeover could impact changes on the pitch in January.
As many as seven Manchester United stars could potentially be facing the axe.
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The club confirmed the announcement of Ratcliffe’s arrival on Christmas Eve, much to the annoyance of club legend Gary Neville.
It has been claimed that Ratcliffe is set to cut 300 jobs at the club with senior managers having been told the importance of “cost discipline”.