Man Utd takeover news: Ratcliffe ‘lead’, Sheikh Jassim stance & when announcement is expected

Sir Jim Ratcliffe and Ineos are closing in on a Manchester United takeover, according to reports.

The UK’s richest man has been locked in negotiations to buy the Red Devils for months, along with Sheikh Jassim bin Hamad al-Thani of Qatar, but it appears that Ratcliffe is set to win the race.

As per the Times, the Raine Group and the Glazers are willing to discuss a sale with Ratcliffe who has become the ‘preferred bidder’ and moved ahead of Sheikh Jassim in the process. Ratcliffe’s ‘willingness to agree a deal that enables Joel and Avram Glazer to retain a 20 per cent stake in the club’ is said to be crucial in the 70-year-old’s offer. But Ratcliffe also plans to buy out the siblings entirely by 2026.

The Times add it has not been ruled out that Sheikh Jassim makes an ‘11th-hour bid’, although as talks have broken down between the Qatari delegation and Raine, any further negotiations may need to take place directly with the Glazers.

Meanwhile, the Daily Mail also report that Ratcliffe’s in the lead but claim a decision will not be made until next and add that the Sheikh Jassim delegation are ‘far from conceding defeat’ in the race. Ratcliffe’s offer is also said to be above the £5bn figure, unlike the Qatari bid, with an initial £2.5bn to be paid which will see the British businessman purchase just over 50 percent of shares.

In contrast, the Independent report that there is no preferred bidder at this stage, although Ratcliffe has had more extensive talks in recent weeks. “The Glazers have been giving consideration to the fact any Qatar offer could take six to nine months longer,” they add.

Ratcliffe is also ‘optimistic’ that the takeover can take place in time for the transfer window opening with the Glazers ‘willing to discuss final details’ with the Nice owner.

Ex-United manager Ole Gunnar Solskjaer has also called on the Glazers to finally sell the club. Speaking An Audience with Ole Gunnar Solskjaer in Manchester on Friday night, the Norwegian said: “It needs to be done. Old Trafford is neglected. The training ground has been neglected. We need to catch up with the other teams.”