British billionaire Jim Ratcliffe’s purchase of a 25 per cent stake in Manchester United has been approved by the Premier League.

An update to the US Securities and Exchange Commission (SEC) on Monday evening revealed the Premier League’s decision to give the green light to Ratcliffe’s investment.

United are still awaiting Football Association approval for the deal, which Ratcliffe said could be completed by mid-February and will give him control of football operations at Old Trafford.

Confirming their approval, a Premier League statement on Tuesday said: “Sir Jim Ratcliffe’s acquisition of 25 per cent of Manchester United FC, and further investment of $300 million in the club, has been approved by the Premier League Board, following the completion of the Owners’ and Directors’ Test.

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