Man United nears sale of 25% stake to Jim Ratcliffe for $33 a share -Sky News

:Manchester United's American owners, the Glazer family, are set to finalise a $33 per share deal with Jim Ratcliffe that will see the British billionaire acquire a 25 per cent stake in the English soccer club, Sky News reported on Friday.

The deal, which could be confirmed later on Friday, will bring to an end a year-long sale process. The Glazer family announced last November that they were exploring "strategic alternatives" for the club, including a possible sale and were open to fresh investment.

Ratcliffe's offer represents a premium of 79.1 per cent to the stock's Thursday closing price of $18.43, valuing the Old Trafford club at about $5.4 billion excluding debt.

Manchester United's U.S.-listed shares rose 9.5 per cent to $20.10 in early trading on Friday.

While the deal will not see the back of the Glazers, who are deeply unpopular with the fans of the 20-times English soccer champions, it will result in major changes to the way the club is run.

Ratcliffe wants to overhaul the club's football operations. It has underperformed on the pitch since former manager Sir Alex Ferguson retired in 2013 following a period of unprecedented success for the club.

Ratcliffe has promised sweeping changes. The club announced on Wednesday that Chief Executive Richard Arnold would depart after less than two years in the top job. Other executives are expected to leave after the deal is finalised, sources say.

The deal values Manchester United above Premier League soccer rival Chelsea, which was sold by Russian businessman Roman Abramovich last May for $5.2 billion - including debt and investments - to an investment group led by U.S. billionaire Todd Boehly and private equity firm Clearlake Capital.

Manchester United generates more revenue