Man Utd and Ratcliffe get Premier League approval over minority stake deal

The Premier League has approved Sir Jim Ratcliffe's proposed bid to buy a minority stake in Manchester United, the club said. 

In a filing to the Securities and Exchange Commission on Monday, United said it had already been granted approval under its rules over who is allowed to be an owner or director of a football club.

United also said it expected clearance from the Football Association as British billionaire Ratcliffe, who is the owner of multinational chemicals company INEOS, closes in on completion of his deal to buy 25 per cent of the club.

Premier League rules disqualify people from becoming owners or directors for reasons such as criminal convictions, sporting bans or involvement in other clubs.

Ratcliffe agreed a deal to buy a stake in United in December and his tender offer for 25 per cent of the Class A shares traded on the New York Stock Exchange has been extended until midnight on Friday night.