Ratcliffe ‘convinces’ Glazers to sell Man Utd in ‘first stage of a full takeover’ after Sheikh Jassim withdrawal
INEOS founder Sir Jim Ratcliffe is set to complete a deal for a 25 per cent stake in Manchester United in the ‘first stage of a full takeover’, according to reports.
Fans have protested against the Glazer family since their controversial leveraged takeover in 2005 and last November’s announcement of a strategic review brought hope of change.
The possibility of a full sale was mentioned and Sheikh Jassim became the first bidder to publicly confirm he had made an offer for the Old Trafford giants.
Ratcliffe swiftly followed but the interminable potential takeover process has rumbled on as the demanding Glazer family dragged their heels.
The news broke yesterday that Qatari banker Sheikh Jassim has now withdrawn from the bidding process and The Times are reporting that Ratfcliffe is ‘set to complete a deal for a 25 per cent stake of Manchester United after the withdrawal of his main rival’.
British billionaire Ratcliffe ‘has convinced the Glazers to sell’ to him and the newspaper understands that it ‘will be the first stage of a full takeover’.
The article in The Times added:
‘Ratcliffe and his petrochemicals firm, Ineos, will pay up to £1.3 billion for an initial 25 per cent stake, with the agreement expected to be ratified at a board meeting this week.
‘Ratcliffe’s initial offer valued the club at more than £5 billion, a world record price for a sports franchise. A willingness to allow the Glazers to keep a stake has also been significant.’
Gary Neville and other Man Utd supporters are desperate to see the Glazer family sell the club and move on with the former defender launching a passionate rant after the Red Devils lost to Brighton in September.
Neville wrote on X, formerly Twitter: “I’ve just got back from Old Trafford and you always have to be optimistic pre-match but the most concerning thing is what we ended up watching wasn’t a surprise. This wasn’t a lack of effort or a group of players not interested. This was a team well-beaten by opponents that were well-drilled and knew what they were doing. Simple as that…
“Oh and yes the Glazers are responsible. It’s how it works.
“You own a business and everything good and bad sits with you! They inherited the best in all areas.
“They’ve overseen ten years of mediocrity off the pitch and on the pitch. They set the culture of greed, ill-discipline, indecision and uncertainty that runs right through the club. It would be best if they sold the club with some speed and efficiency and allowed at least the off-the-pitch items to be corrected properly that reset the tone and culture.
“Football is volatile so results on the pitch can be erratic and cyclical but if the off-the-pitch stuff including the owners’ direction and leadership are spot on it gives you a better chance to succeed on it.”
