Man Utd takeover: ‘£3bn’ Sir Jim Ratcliffe twist & Sheikh Jassim plan ahead of bidding deadline
The latest takeover news surrounding Manchester United, with Sir Jim Ratcliffe perhaps willing to work with the Glazers.
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Manchester United’s takeover saga took a fresh twist on Wednesday, with reports that Sir Jim Ratcliffe is willing to keep the Glazers on board if his bid is successful.
After two rounds of offers, Friday marks the deadline for the third and final bids to be made for the club. Ratcliffe and Qatar’s Sheikh Jassim bin Hamad al-Thani are the only parties open to a takeover, while there have been suggestions that four US hedge funds are willing to make an offer for a partial stake in United.
But the Daily Mail have reported that Ratcliffe is now offering a deal that would see him purchase more than 50 percent of shares, but allow Joel and Avram Glazers to retain a combined 20 percent.
The Mail add Ratcliffe’s approach ‘may well prove to be the preferred option with the two Glazer brothers’ while Ineos - Ratcliffe’s company - would pay to redevelop Old Trafford and the training ground, while also providing significant sums for Erik ten Hag to spend on transfers this summer.
The preferred bidder will know ‘within days’ of Friday’s deadline whether they have been successful, with it hoped the process will be concluded long before the summer transfer window opens. Meanwhile, Sheikh Jassim is said to still be pushing for a full takeover and is not interested in a partial offer. “He is viewed as having the deepest pockets and remains an attractive proposal. A full takeover is also viewed as a ‘cleaner’ transaction,” the Mail reported.
The Times also ran a similar article on Wednesday night and claimed a partial takeover with the Glazers remaining would be seen as an ‘extremely smart business decision’ from the current owners, while the deal ‘makes sense’ for Ratcliffe. The UK’s richest man would be expected to pay between £2.5bn-£3bn to purchase over 50 percent of the club with the opportunity to purchase more shares at a later date a possibility.