Players.bio is a large online platform sharing the best live coverage of your favourite sports: Football, Golf, Rugby, Cricket, F1, Boxing, NFL, NBA, plus the latest sports news, transfers & scores. Exclusive interviews, fresh photos and videos, breaking news. Stay tuned to know everything you wish about your favorite stars 24/7. Check our daily updates and make sure you don't miss anything about celebrities' lives.

Contacts

  • Owner: SNOWLAND s.r.o.
  • Registration certificate 06691200
  • 16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
  • Czech Republic

Manchester United set new deadline for Sir Jim Ratcliffe to complete investment

Manchester United have extended the deadline for Sir Jim Ratcliffe to complete his investment in the club.

The petrochemicals billionaire did have until midnight on Tuesday – in eastern time in the United States – to finalise his £1.2bn deal but now has a further 72 hours until Friday.

There are no concerns that Ratcliffe does not have the funds with an SEC filing saying the 71-year-old has liquid assets worth more than $4bn but that his overall value, partly due to his stake in Ineos, is “significantly in excess” of that.

On Christmas Eve, Ratcliffe agreed a deal to buy a 25 per cent stake in the club, with Class B shares owned by the Glazer family and Class A shares that are traded on the stock exchange.

According to the SEC filing, “19,431,468 Class A Shares, representing approximately 36.7% of the outstanding Class A Shares, have been validly tendered (and not validly withdrawn) pursuant to the Offer”.

Ratcliffe will pay $437m for Class A shares and $1.65bn in total, paying a price of $33 a share.

His stake in the club will rise to 29 percent as he has pledged to invest £237m in infrastructure while Ineos will have control of footballing operations. Ratcliffe will get two seats on the football club board, which will go to Jean-Claude Blanc and Sir Dave Brailsford.

Ratcliffe, a lifelong United fan, and Brailsford have been at Old Trafford and the Carrington training ground as they conduct an audit of the club.

Join thought-provoking conversations, follow other Independent readers and see their replies

PA

Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.

Read more on independent.co.uk