More than a year after it was put up for sale, Manchester United said Sunday that British billionaire Jim Ratcliffe had agreed to buy a minority stake in the storied Premier League club. Ratcliffe owns petrochemicals giant INEOS and is one of Britain’s richest people. He has secured a stake of “up to 25%” of the 20-time league champions and will invest $300 million in its Old Trafford stadium. As part of the deal United said Ratcliffe would take responsibility for the club’s soccer operations. In total the deal will be worth around $1.6 billion including the $300 million of funding. The deal is subject to approval by the Premier League.
