Breaking Man United confirm Jim Ratcliffe investment

Ineos Group chairman Jim Ratcliffe has agreed to buy a 25% stake in Manchester United and inject around €270million into the club, the Red Devils have announced.

Ineos, who will assume delegated responsibility for the club's football operations, and United have entered an agreement under which he will acquire 25% of the Class B shares held by the Glazer family and up to 25% of the Class A shares while investing 300 million US dollars (€270million) into its infrastructure.

A club statement said: "Manchester United announces that it has entered into an agreement under which chairman of Ineos, Sir Jim Ratcliffe, will acquire 25 per cent of Manchester United’s Class B shares and up to 25 per cent of Manchester United’s Class A shares and provide an additional 300 million intended to enable future investment into Old Trafford.

"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. This will include all aspects of the men’s and women’s football operations and academies, alongside two seats on the Manchester United PLC board and the Manchester United Football Club boards."

The statement continued: "The joint ambition is to create a world-class football operation building on the club’s many existing strengths, including the successful off-pitch performance that it continues to enjoy.

"The transaction is subject to customary regulatory approvals and all parties are hopeful it will be completed as soon as possible."

Ratcliffe said: "As a local boy and a lifelong supporter of the club, I am very pleased that we have been able to agree a deal with the Manchester United board that delegates us management responsibility of the football