Man United hype ends with Ratcliffe purchase

Top dollar: Ratcliffe is pictured at Old Trafford Stadium in Manchester. He will pay US$33 a share for a 25% stake in the club, valuing it at US$5.4bil, falling below initial hopes of US$6bil. — Reuters

LONDON: Billionaire Jim Ratcliffe has completed the purchase of a stake in Manchester United, defeating rival bids from petro-states and hedge funds while ending a bidding war marked by hype and rancor, people familiar with the matter say.

An announcement with details of the purchase is expected in due course, said the people, who ask not to be identified before the official announcement.