Ratcliffe Buys Stake in Manchester United at $6.4B Valuation, Seeks to Revive Team
• Ratcliffe agrees to buy 25% stake in Manchester United, valuing club at $6.4 billion including debt
• Valuation is a premium to other recent sports team sales like the Washington Commanders and Chelsea FC
• But stock market reaction is muted, implying investors think Ratcliffe overpaid
• Ratcliffe wanted to buy club outright but balked at Glazers' high price expectations
• Deal gives Ratcliffe some control over football operations to try to revive team's on-field fortunes