Manchester United: Minority stake by Sir Jim Ratcliffe set to be agreed soon
Manchester United might get a new minority stakeholder in the form of Sir Jim Ratcliffe’s Ineos Group within next few weeks, in the International break, according to latest reports. It comes after Qatari banker Sheikh Jassim bin Hamad Al Thani withdrew from the bid, making Sir Ratcliffe the only person at the table.
Sir Jim Ratcliffe to get his stake agreed
Manchester United are going through one of their worst patches this season. They are currently reeling in Premier League, cementing their position on the mediocre eighth position, and to add to their woes, they are on the last spot in their respective UEFA Champions League group, having lost games against minnows FC Copenhagen 3-4 after leading the game 3-2. Erik Ten Hag’s side are facing the brunt in every games, and with each result, the possibility of an Erik Ten Hag axe is increasing. In this situation, Manchester United is set to get a new minority stakeholder in the form of Sir Jim Ratcliffe, as this news comes after Qatari owner Sheikh Jassim decided to withdraw from his bid to buy the club. United’s owners the Glazers’ family announced last year that they would be selling the club, with Ratcliffe’s Ineos Group and Sheikh Jassim tabling bids of around 5 billion euros. But, both bidders were unwilling to reach Glazers’ valuation, with Joel and Avram Glazer reputed to be reluctant sellers. Last month, Sheikh Jassim withdrew from bidding, although his final bid of 2.64 billion euros were reported not to match with Glazers’ demand.
Sir Jim Ratcliffe- a business honcho
It has been reported that Sir Ratcliffe would be taking over the operations side of the club, after agreeing for a minority stake of 25%. Trusted sources have already reported that it would be unfathomable to imagine that he has agreed to be a silent partner in a club. Although the precise date of confirmation is yet to be agreed, BBC Sport has been informed that it will not be on Monday, as club will mark legendary Sir Bobby Charlton’s funeral on that day. Fans have resented the Glazers’ continuation, and it is reported that they would continue their demonstration at Saturday’s game against Luton Town in Old Trafford.
Sir Ratcliffe’s Petrochemicals firm Ineos owns French Ligue 1 side OGC Nice and Swiss club Lausanne. Their sporting portfolio includes high-profile sailing team Ineos- which is led by Sir Ben Ainslie, who is on the brink of winning 2024 America’s Cup for Great Britain. The group also holds a five-year relationship with leading Formula 1 firm Mercedes, owing an one-third of stake. Sir Ratcliffe has been a lifelong United fan, and wants to utilize his dream after taking minority control of the club.
