Sir Jim Ratcliffe agrees deal to buy 25% stake in Manchester United

British billionaire Sir Jim Ratcliffe has agreed to buy a 25% stake, worth about £1.25bn, in Manchester United.

As part of the deal, Ratcliffe's Ineos Group will take control of the club's football operations.

Ratcliffe, 71, will also provide $300m (£236m) for future investment into Old Trafford.

The announcement comes 13 months after the club's owners, the Glazer family, stated they were considering selling to "explore strategic alternatives".