Why a chemical company boss wants to buy a quarter of Man Utd
British-born billionaire Sir Jim Ratcliffe has agreed a deal to buy a 25% stake in the Premier League football club, Manchester United. The deal - worth around $1.6bn - will also see Sir Jim take control of the club's operations.
The boss of the chemical boss INEOS was initially vying with a Qatari businessman, Sheikh Jassim, for a wholesale buyout of the club from its current US owners, the Glazer family. But the Sheikh pulled out and Mr Ratcliffe shifted his focus to strike his own deal.
Football finance expert Kieran Maguire from the University of Liverpool told Newshour's Celia Hatton why Sir Jim was motivated to buy a share of the club and what he'll do next.
(Photo shows Sir Jim Ratcliffe at Old Trafford in Manchester, England on 17 March 2023. Credit: Phil Noble/Reuters)
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