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- Shares of Manchester United fell as much as 23% on Monday after reports that British billionaire Jim Ratcliffe is looking to acquire only a 25% stake in the soccer club raised concerns that a buyout by Qatar's Sheikh Jassim bin Hamad al Thani could be off the table.
Ineos Chair Jim Ratcliffe would pay over $1.5 billion for the stake in Manchester United if his bid for the soccer club is accepted by the Glazer family that controls it, Reuters reported on Sunday, citing a person familiar with the matter. "Investors are clearly reacting with disappointment to expectations the Qatar deal for Manchester United will not go through," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.
A large number of fans have been clamoring for a change of ownership because the Glazers have overseen a significant downturn in the club's fortunes, with the club winning just the last of their 20 top-flight titles.
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