The stake is valued at about $1.3 billion (£1.03 billion).
British billionaire Sir Jim Ratcliffe has agreed to buy a 25% stake in Manchester United.
The English Premier League club announced on Sunday that it had reached an agreement with the billionaire to buy the 25% stake.
Based on the agreement reached on the deal, despite buying only 255 stake, Ratcliffe’s Ineos Group will take control of football operations.
The 71-year-old Englishman beat Sheikh Jassim bin Hamad al-Thani to the deal even though the Qatari banker had offered almost double the £2.9 billion market value of the club for outright ownership, but it was rejected by the Glazers.
Ineos will provide $300 million (£236 million) for future investment into the club’s stadium known as Theatre of Dreams.
“Manchester United reaches agreement for Sir Jim Ratcliffe, Chairman of INEOS, to acquire up to a 25% shareholding in the Company,” the club tweeted on Sunday.
