MANCHESTER, England — More than a year after it was put up for sale, Manchester United said Sunday that British billionaire Jim Ratcliffe had bought a minority stake in the storied Premier League club.

Ratcliffe, who owns petrochemicals giant INEOS and is one of Britain’s richest people, has bought a stake of “up to 25%” of the 20-time league champions and will invest $300 million in its Old Trafford stadium.

As part of the deal, United said Ratcliffe would take responsibility for the club’s soccer operations.