Sir Jim Ratcliffe, the CEO of INEOS, is on the verge of achieving his goal of acquiring Manchester United from the Glazers, with a deal expected to be finalized this month.
Ratcliffe is one of the leading contenders in the race to purchase the renowned football club, alongside Qatari businessman Sheikh Jassim bin Hamad al-Thani, per Mirror Football.
Sir Jim Ratcliffe is on the brink of being successful with his strategy of buying Manchester United with a deal likely to be clinched this monthhttps://t.co/qeCM1C62QU pic.twitter.com/W6kY6d5TU8
— Mirror Football (@MirrorFootball) June 8, 2023
Recently, both Ratcliffe and Sheikh Jassim submitted their third and final bids. Sheikh Jassim's proposal to Manchester United entailed a complete buyout, while Ratcliffe's offer involves acquiring a controlling interest in the club while allowing Joel and Avram Glazer to temporarily retain a 20% stake. However, Ratcliffe's bid also includes a clause that would see the Glazer family gradually exiting the club, with no control and contractual obligations to depart in the coming years.
This week, Sheikh Jassim presented an improved fifth bid for Manchester United but stipulated that it must be accepted by Friday, or he would withdraw from the race. Nevertheless, his offer is still valued lower than Ratcliffe's and falls short of the Glazers' valuation of the club, indicating that the end of the negotiation process is approaching.
The prolonged takeover proceedings, which have nearly reached their seventh month, have been a source of frustration for fans, the team's manager, and observers alike. However, this delay has inadvertently worked in Jim Ratcliffe's favor.
Bryan, Darcie, Edward, and Kevin Glazer are still associated with the club, with Joel and Avram demonstrating a stronger attachment to Manchester United. The remaining siblings are believed to be in favor of a permanent departure. The lack of consensus within the family is said to have contributed to the delay in finalizing the deal.
The Glazers have faced significant backlash from supporters due to their leveraged buyout in 2005, which burdened the club with substantial debt. Additionally, Manchester United has not clinched a Premier League title in the past decade. Fans have been vocal in their demands for the Glazers to relinquish their ownership of the club entirely.
The anticipation builds among fans, the manager, and observers as they eagerly await the finalization of the deal. The outcome of this takeover bid could mark a significant turning point for the renowned football club, setting the stage for a new era under Sir Jim Ratcliffe's leadership.
In the meantime, Manchester United will have to sort their roster shakeup along with their ownership disputes.
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