News Update:
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A Manchester United statement has reached an agreement for INEOS president Sir Jim Ratcliffe to acquire a 25% stake in the company.
The transaction is subject to customary consent and all parties hope that it will be completed as soon as possible.
Jim Ratcliffe has now become a minority shareholder in the organization and he is expected to oversee all football operations.
INEOS founder a lifelong Man United fan bought a 25% stake for 1.3 billion.
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