Manchester United Football Club will on Sunday confirm the sale of a 25% stake to the billionaire petrochemicals tycoon Sir Jim Ratcliffe.
Sky News has learnt that an announcement will be made later which will bring an end to 13 months of talks about a potential takeover of the Old Trafford club.
Sources said that United and Sir Jim’s Ineos Sport would confirm that he is acquiring the interest for $33-a-share (£26), confirming a report last month by Sky News.
The deal, which will come amid a torrid season for the Red Devils on the pitch, will see Sir Jim take control of the club’s footballing affairs once it is approved by the Premier League – a process expected to take between six and eight weeks.
He will inject $300m (£237m) into the club for investment in its infrastructure, taking his immediate outlay to roughly $1.5bn (£1.2bn).
Sir Jim will nominate two representatives to join the United board.
The deal, which Sky News revealed details of last month, will be structured as a tender offer to acquire 25% of the listed A-shares.
The Glazers will also sell 25% of their B-shares, which carry greater voting rights, to Sir Jim as part of the deal.
The additional investment from Sir Jim is likely to be welcome by United fans who believe the club has been starved of investment under the Glazers’ ownership.
Image: Manchester United fans let off flares as they protest against the Glazer family in 2021
However, United’s home is likely to need far more than £245m to deliver the overhaul that is required to turn it into one of the world’s elite football stadia once more.
The redevelopment will be financed personally by the billionaire and will not add to Manchester United’s existing borrowings.
Sir Jim’s purchase of a 25% stake in the Red Devils will be confirmed more than a year after the Glazer family, which has controlled the club since 2005, began formally exploring a sale.
The Financial Times reported earlier on Sunday that Sir Jim’s investment had been delayed by concerns about protections for minority shareholders.
These concerns have now been overcome, according to insiders.
The deal between the Glazers and Sir Jim comes after months of negotiations with several potential buyers, including the Qatari businessman Sheikh Jassim bin Hamad al-Thani, who wanted to acquire full control of the club. United lost 2-0 at West Ham on Saturday to leave the club facing an uphill struggle to qualify for next season’s Champions’ League.
Several other key questions remain about United’s future ownership, including whether Sir Jim will ultimately seek overall control of the club.
Some United fans have expressed disquiet at the prospect of Sir Jim buying a minority stake given that it paves the way for the Glazers’ continued presence at Old Trafford.
Image: Manchester United, playing in white, continued their poor form this season by losing 2 – 0 to West Ham
The family, who paid just under £800m to buy the club in 2005, has remained inscrutable throughout the process and has said nothing of substance to the NYSE since the process of engaging with prospective buyers kicked off.
Earlier iterations of Sir Jim’s offers for the club, which focused on gaining outright control, included put-and-call arrangements that would become exercisable three years after a takeover to enable him to buy out the remainder of the club’s shares.
The Monaco-based billionaire, who owns the Ligue 1 side Nice, pitched a restructured deal in October in an attempt to unblock the ongoing impasse over United’s future.
In addition to the competing bids from Sir Jim and Sheikh Jassim, the Glazers received several credible offers for minority stakes or financing to fund investment in the club.
Part of the Glazers’ justification for attaching such a huge valuation to the club resides in the possibility of it gaining greater control in future of its lucrative broadcast rights, alongside a belief that arguably the world’s most famous sports brand can be commercially exploited more effectively.
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From November 2022: Manchester United owner Avram Glazer confronted by Sky News in Palm Beach
The Glazers’ tenure has been dogged by controversy and protests, with the absence of a Premier League title since Sir Alex Ferguson’s retirement as manager in 2013 fuelling fans’ anger at the debt-fuelled nature of their takeover.
Fury at its proposed participation in the ill-fated European Super League project in 2021 crystallised supporters’ desire for new owners to replace the Glazers.
Confirming the launch of the strategic review last November, Avram and Joel Glazer said: “The strength of Manchester United rests on the passion and loyalty of our global community of 1.1bn fans and followers.
“We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the club today and in the future.”
The Glazers listed a minority stake in the company in New York in 2012. Ineos and Mancheser United both declined to comment.
Plaid Cymru have won the by-election in the Senedd seat of Caerphilly for the first time.
The Welsh nationalist party secured 15,960 votes – and candidate Lindsay Whittle cried as the result was announced.
Mr Whittle is 72 years old and had stood as a Plaidcandidate 13 times since 1983. He will now hold the seat until the Welsh Assembly’s national elections next year.
This by-election was widely regarded as a two-horse race between Plaid Cymru and Reform UK, and the result marks a considerable blow for Nigel Farage.
His candidate Llyr Powell received 12,113 votes – denying a victory that would have strengthened claims that Reform can convert a large lead in opinion polls into election wins.
Nonetheless, the party’s performance is a marked improvement on 2021, when it received just 495 votes.
More than anything, the result is a humiliating and historic defeat for Labour, who had held Caerphilly at every Senedd election since it was created in 1999 – as well as the Westminster seat for over a century.
Its candidate Richard Tunnicliffe secured 3,713 votes and finished in third place, with Welsh Labour describing it as a “by-election in the toughest of circumstances, and in the midst of difficult headwinds nationally”.
Turnout overall stood at 50.43% – considerably higher than during the last ballot back in 2021.
Giving his acceptance speech after the result was confirmed, Mr Whittle began by paying tribute to Hefin David – who was Welsh Labour’s Member of the Senedd for Caerphilly until his death in August.
“He will be a hard act to follow,” Mr Whittle said. “I will never fill his shoes – but I promise you, I will walk the same path that he did.”
The Plaid politician described how he had been “absolutely heartened” by how many young people were involved in the by-election – and said the result sends a clear message.
He said: “Listen now Cardiff and listen Westminster – this is Caerphilly and Wales telling you we want a better deal for every corner of Wales. The big parties need to sit up and take notice.
“Wales, we are at the dawn of new leadership, we are at the dawn of a new beginning – and I look forward to playing my part for a new Wales, and in particular, for the people of the Caerphilly constituency. I thank you with all my heart.”
Mr Whittle quipped Plaid’s victory “was better than scoring the winning try for Wales in the Rugby World Cup”.
And looking ahead to the next year’s elections, he added: “[This] result shows what’s possible when people come together to back practical solutions and protect what matters most.
“We’ve beaten billionaire-backed Reform and, with the same determination, we can do it again in May 2026. Caerphilly has shown the way – now Wales must follow.”
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How tactical voting helped Plaid Cymru
Speaking to Sky’s chief political correspondent Jon Craig just before the declaration, Plaid Cymru leader Rhun ap Iorwerth said: “There’s clearly a real significance to the result – we are seeing the disillusionment with Labour writ large. I’ve heard it on hundreds of doorsteps, we’ve seen it in opinion polls.”
He conceded there was tactical voting in this by-election – with Labour and Conservative supporters alike backing Lindsay Whittle to keep out Reform.
However, Mr ap Iorwerth added: “I’ve spoken to literally hundreds and hundreds of people who told me – time and time again – ‘I’ve been a Labour supporter all my life, and we’re backing you this time.’
“Not begrudgingly, but because they see that’s the direction we’re going in – not just in this by-election, but as a nation. I’m calling on people to get behind that positive change – not just today, but ahead of next May.”
First Minister Eluned Morgan congratulated Mr Whittle on his return to the Senedd and said: “Welsh Labour has heard the frustration on doorsteps in Caerphilly that the need to feel change in people’s lives has not been quick enough.
“We take our share of the responsibility for this result. We are listening, we are learning the lessons, and we will be come back stronger.”
The Conservatives and the Liberal Democrats were among the parties who lost their deposits.
It was a welcome designed to catch our attention, for a visit that meant everything to the King.
The Swiss guard, standing to attention as the UK’s national anthem played out in the courtyard outside the Apostolic Palace.
Queen Camilla, wearing a distinctive black mantilla as a mark of respect to the Pope, as they made their way inside to meet Pope Leo XIV for the first time.
We know King Charles had built a relationship with Pope Francis before his death, now it appeared he was building a friendly rapport with his predecessor, as Pope Leo and the King happily talked away, both in English, meaning their conversation flowed more naturally.
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Will King and Pope distract from Andrew?
But while friendships between heads of state do matter diplomatically, this was also about making history.
Inside the Sistine Chapel, they prayed alongside each other. The first time a monarch and a pontiff have done that for 500 years, since Henry VIII broke away from the Catholic Church.
Image: Pope Leo greets King Charles and Queen Camilla at the Vatican. Pic: AP
Image: Pope Leo and Archbishop of York are joined by the King and Queen during an act of worship in the Sistine Chapel. Pic: Vatican Media/Reuters
With King Charles also the supreme governor of the Church of England, the optics could not have been more significant for relations between the two faiths.
If you wanted to see how much King Charles’s interfaith work is appreciated, it came at the basilica of St Paul’s outside the walls.
An abbey with long-held links with English monarchs, where he was given the ceremonial title of royal confrater, and a special seat was made just for him and his heirs.
Alongside religious matters, the two men talked publicly about their shared passion for the environment ahead of the UN’s climate conference COP, taking place in just over a week’s time.
With the King sent here on behalf of the government, and the foreign office emphasising how the Holy See is a vital global partner, we really saw brought into focus the soft power of the royals and the church, and how influential both can be.
Image: King Charles’s visit brings into focus the soft power of the royals. Pic PA
Image: King Charles at a garden reception at the Pontifical Beda College, where men prepare for the priesthood. Pic: PA
The interactions between the King and Pope showed a shared interest in a range of global issues.
But as the head of the Catholic Church for England and Wales, Cardinal Vincent Nichols pointed out to me, here are also two heads of state who sadly have issues around allegations of historical sexual abuse hanging over their institutions, and the decision on how to address that publicly.
There will be relief that there were no updates on the Prince Andrew problem today.
But despite Andrew vehemently denying that he has done anything wrong, revelations have kept coming.
And that is where the jeopardy lies for the royal family as they try to draw our attention back to important moments like this.
In 1645, the stronghold of Caerphilly’s famous medieval castle was besieged and captured by the forces of Oliver Cromwell.
And as the polls closed at 10pm after a bruising by-election battle, the Labour stronghold of Caerphilly was in grave danger of being captured by the forces of Nigel Farage and Reform UK in 2025.
Famous for the three Cs of coal, cheese and its castle, Caerphilly has been represented at Westminster by Labour MPs for more than a century and in Cardiff since 1999, when the Welsh Assembly was created.
That’s about to change. Labour’s vote – once as impregnable as the castle – has crumbled like Caerphilly cheese, and the Tories, Lib Dems and Green Party are nowhere.
Image: Pic PA
But Reform’s UK hopes of a famous victory in Caerphilly could be dashed by another political party hopeful of making a huge breakthrough in Wales, Plaid Cymru, second to Labour in last year’s general election and in every election for the Senedd since devolution.
As he arrived at the count at Caerphilly Leisure Centre shortly before the polls closed, Plaid Cymru’s veteran candidate, Lindsay Whittle, 72, was remarkably cheerful. Asked if he was going to win, he declared, punching the air: “I certainly hope so!”
An opinion poll in the constituency last week put support for Reform UK at 42%, Plaid Cymru 38%, Labour a dismal 12%, the Conservatives in lost deposit territory at 4%, along with the Greens at 3% and the Lib Dems barely registering at 1%.
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Unlike Cromwell’s forces, who arrived in Caerphilly on horseback nearly 400 years ago, Mr Farage galloped into the constituency on polling day in a fast car, in what was his third visit of the by-election campaign to the constituency.
A victory for Mr Farage’s candidate, 30-year-old Llyr Powell, would leave Reform UK on the road to further triumphs and have an impact on UK politics far beyond the Welsh Valleys. It would be a pointer to massive Reform UK gains in local, Scottish Parliament and Welsh Senedd elections next year.
It would turn the mood of Labour MPs from its current gloom and trepidation into blind panic and would convince them – if they were not convinced already – that Mr Farage is on the march to Downing Street and many of the 2024 Labour intake will lose their seats at the next general election.
But let’s not rule out a Plaid victory. That would send shockwaves throughout Wales and be seen as a clear signal that Labour’s 26-year dominance of the Welsh government is about to come to an undignified end.
The only certainties tonight are humiliation for Labour and near-wipeout for the Conservatives and Lib Dems.
The only uncertainty is whether it’s Reform UK or Plaid Cymru whose troops – like Cromwell’s in 1645 – capture Labour’s Caerphilly stronghold.