ITV has sold its one-third stake in Manchester United Television to the football club.

Manchester United purchased the stake for £3.3m. It now holds two thirds of MUTV, with the remainder held by Sky.

"This is another step in ITV's ongoing non-core asset disposal programme, which has seen us successfully raise over £500 million since the merger in 2004," said Tom Betts, ITV's commercial and acquisitions director. "We leave MUTV in great shape and wish them every ongoing success for the future."