The additional investment will go towards upgrading the club’s ageing infrastructure.
The proposed investment will be financed by billionaire Jim Ratcliffe personally and not add to the Premier League club’s existing borrowings.
Reuters reported in October that Ratcliffe would pay more than US$1.5 billion for a 25% stake in United were his bid for the iconic football club to be accepted by the Glazer family. Ratcliffe founded Ineos in 1998 and is the chemical group’s chairman and chief executive officer, with a two-thirds stake. Forbes pegs his net worth at about US$19 billion.
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