Sir Jim Ratcliffe set to acquire 25% stake in Manchester United after Sheikh Jassim’s withdrawal
In a surprising turn of events, Sir Jim Ratcliffe is on the verge of securing a significant 25% stake in Manchester United, following the withdrawal of a Qatari consortium led by Sheikh Jassim from the takeover race.
The Bid and Withdrawal
United poised to accept £1.3 billion offer for a 25% stake from Ratcliffe and INEOS at an upcoming board meeting. The Glazer family rejected the latest bid by Sheikh Jassim. Leaving the path clear for Ratcliffe to make this substantial acquisition. This move is seen as the initial step toward a potential full takeover of the club.
The Bigger Picture
This development indicates a possible resolution to the prolonged takeover saga that began almost a year ago when the club was initially put up for sale. Ratcliffe has emerged as the leading contender once again, presenting a revised offer that allows the Glazers to retain control temporarily. The new valuation of the club ranges from £5 billion to £5.5 billion, which could set a new record for sports club acquisitions.
What Lies Ahead
Ratcliffe’s bid is expected to gain approval from the club in the coming week. Potentially marking the end of the takeover drama. Manchester United is scheduled to resume Premier League action against Sheffield United on October 21.
Stay tuned for more updates on this unfolding story.