Ineos chief executive Jim Ratcliffe is looking to invest $300 million (£245 million) in Manchester United's infrastructure, in addition to his $1.5 billion plus offer to buy a 25 per cent stake in the club, according to a person familiar with the matter.
The investment, intended for upgrading the club's ageing infrastructure, will be financed by the billionaire personally and not add to the Premier League club's existing borrowings, the source said.
Shares in United rose 4 per cent to $18.85 on the news, which was first reported by Sky News. Ratcliffe did not immediately respond to a request for comment.
Manchester United declined to respond to a Reuters request for comment. Reuters reported in October that Ratcliffe would pay more than $1.5 billion for a 25 per cent stake in United were his bid for the iconic club to be accepted by the Glazer family that controls it.