Man Utd takeover candidate’s ‘only way of winning’ mooted; rival must ‘bid higher’ to oust Glazers

Journalist Ben Jacobs thinks INEOS’ Sir Jim Ratcliffe may only have one “way of winning” the Manchester United takeover race ahead of Sheikh Jassim.

The Red Devils have been up for sale since last November and it’s been made clear in recent months that Sheikh Jassim and Ratcliffe are the leading candidates to oust the Glazer family.

The two takeover candidates are understood to have offered around £5bn but the Glazer family are reportedly holding out for a higher price.

It has emerged in recent weeks that Ratcliife is willing to keep the Glazers on board as part of his bid, while Sheikh Jassim is only interested in a full takeover.

There have been three official rounds of bidding but this process has reached an impasse of late as there does not look to be an end goal in sight.

Ratcliffe is making efforts to speed up the sale as it’s been revealed this week that he is willing to take just a 25% stake in Man Utd with an offer of around £1.5bn. 

Jacobs is of the belief that Ratcliffe “eventually wants control” of the Premier League giants” but “taking a minority stake first may break the impasse”.

“Sources close to INEOS still insist Ratcliffe eventually wants control, but taking a minority stake first may break the impasse and make getting it a more prolonged process,” Jacobs told Caught Offside.

“A 25% stake could cost as high as £1.5bn and would involve Ratcliffe buying an equal amount of class A and B shares, which crucially would remove the risk of litigation.

“Ratcliffe has always insisted he wants control and majority stake, but is prepared to be patient and ultimately is being fluid in his negotiations in order to try and win at all costs. Those close to the process have been very impressed by how INEOS have handled talks to date.”

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Jacobs also claimed that this “foot-in-the-door” approach may be “Ratcliffe’s only way of winning”.

“Sheikh Jassim still wants 100% of the club. His Nine Two Foundation bid is ‘all or nothing. He won’t entertain a minority stake or any scenario in which the Glazers stay. It is still thought Sheikh Jassim must again bid higher if he’s to succeed and it remains to be seen whether suggestions Ratcliffe might be making progress could prompt the Qataris to pay what it takes,” Jacobs added.

“The Glazers will be well aware of the backlash if they stay, as will Ratcliffe, but both are thick-skinned and if the deal suits both parties then they won’t be put off by negative reaction.

“Ratcliffe may also argue this is his only choice, which would be indicative of the Glazers deciding they don’t want to sell (at least yet) and wish to remain in control of the club. Perhaps a foot-in-the-door is Ratcliffe’s only way of winning.”

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