By According to a report, British billionaire Sir Jim Ratcliffe is exploring the possibility of acquiring a minority stake in Manchester United. Ratcliffe, who serves as the CEO of chemical giant Ineos, plans to break the club’s ongoing takeover deadlock without wresting control from the current owners, the Glazer family.
Ratcliffe’s sports division, Ineos Sports, has proposed a deal to acquire portions of the Glazers’ shares as well as shares of Manchester United Ltd. This alternative approach suggests a shift in strategy, as Ratcliffe seeks to secure a 25% minority stake. Following this news, Manchester United’s stock experienced a 1% decline on Tuesday.
Notably, Ratcliffe’s bid is not the only one in contention. Sheikh Jassim, chairman of Qatar Islamic Bank and the son of a former prime minister of Qatar, has also submitted a rival offer for control of Manchester United. The current valuation of both Ratcliffe’s and Sheikh Jassim’s bids exceeds $6.1 billion.
This latest development comes after reports of Ratcliffe restructuring his bid in an effort to overcome the takeover deadlock. While details regarding the extent of these changes remain undisclosed, it is clear that Ratcliffe aims to rejuvenate his bid and make progress in the ongoing battle.
The American Glazer Family and Manchester United
In 2005, the American Glazer family gained control of one of the biggest names in world football – Manchester United. Recently, there has been growing pressure for the Glazers to sell the Premier League club due to fan frustration over perceived underperformance. Manchester United’s last Premier League victory was in 2013, and in 2021, the Glazers faced significant backlash from fans regarding the proposed participation in the controversial European Super League.
The recent defeat of Manchester United, with a score of 1-0 against Crystal Palace, further fueled the discontent among fans. Currently sitting at 10th place in the Premier League standings, Manchester United’s next challenge awaits them today against Turkish giant Galatasaray in the Champions League.
It remains to be seen how the situation will unfold and whether any changes will be made to address the concerns of the passionate Manchester United fanbase.
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