Manchester United up 6% as stake chatter draws in another billionaire

Aug. 17, 2022 3:09 PM ETManchester United plc (MANU)By: Jason Aycock, SA News Editor3 Comments

Old Trafford is a football stadium Greater Manchester England and the home of Manchester United

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Manchester United (NYSE:MANU) is up 6% and tagging some late-Wednesday highs amid reports that one of Britain's richest men is interested in a piece of the club action.

Billionaire Sir Jim Ratcliffe, founder of Ineos Group, is "definitely a potential buyer," a spokesman says according to The Times of London.

The news follows reports that the under-fire ownership of the team - the Glazer family - is open to a minority investment, though it's not ready to cede control of the team. The Glazers have raced growing fan protests over their ownership.

Ratcliffe usually looks for full control of businesses he buys into, but would consider the minority investment that the Glazers are seeking.

“If something like this was possible, we would be interested in talking with a view to long-term ownership," Ratcliffe's spokesman said, adding that fresh investment into Man United could help upgrade infrastructure where it's badly needed, such as the team's Old Trafford stadium.

Ratcliffe - who owns Nice in France's Ligue 1 - is a United fan, and failed in an attempt to bid for Chelsea in May.

Man United started the day amid chatter about another billionaire's interest in the team - Elon Musk who clarified his tweet about buying the team was only joking.

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