Billionaire Jim Ratcliffe Close To Buying Stake In Manchester United Football Club
Portfolio Pulse from Shivani Kumaresan
Jim Ratcliffe is reportedly close to buying a 25% stake in Manchester United PLC (NYSE:MANU) at $33 per share, a 75% premium over its recent closing price. The club is valued at $3.04 billion. The Glazers aim to finalize the deal before Thanksgiving, with Ratcliffe's firm Ineos Sports acquiring both A and B shares. The investment will be personally financed by Ratcliffe, with $300 million earmarked for infrastructure development. MANU shares rose 7.38% in premarket trading.
November 17, 2023 | 3:32 pm
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Jim Ratcliffe is close to acquiring a 25% stake in Manchester United at a significant premium, with shares rising 7.38% in premarket. The deal includes a $300 million investment in infrastructure.
The news of a potential acquisition at a premium price and the associated investment in infrastructure by a high-profile investor like Jim Ratcliffe is likely to be viewed positively by investors, driving up the stock price in the short term. The 7.38% premarket rise indicates immediate positive market reaction. However, the deal is still under negotiation, which adds a degree of uncertainty.
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RELEVANCE 100