The long running takeover daga at Manchester United may be coming to a close, with Sir Jim Ratcliffe reportedly identified as the preferred bidder.
The Glazer family, who continue to face protests against their ongoing presence at Old Trafford, have forced interested parties to go through three rounds of bidding in what has become a protracted sale process.
Ratcliffe, the INEOS Group chief, who is Britain’s richest man, and Qatari banker Sheikh Jassim bin Hamad al-Thani have led the race for control of United.
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The Glazers – with co-chairman Joel and board member Avram allegedly eager to stay on in some capacity – are now said to have made Ratcliffe their partner of choice, with The Sun reporting that deal makers Raine Group could confirm the winning bid “within days”.
Ratcliffe has reportedly moved to the front of the queue as the Glazers would prefer to sell majority control of United to him, rather than part with the whole club in a deal with Sheikh Jassim.
Despite there being no changes in either deal, with chief executive Richard Arnold expected to depart, Joel and Avram Glazer will retain their stakes if Ratcliffe takes the reins – while the four other siblings will cash out their shares.
WHAT NEXT? Sheikh Jassim’s offer is the biggest in terms of cash payment, at £5 billion ($6.3n), but Ratcliffe’s bid for 50 per cent of United values the club at closer to the Glazers’ demanded £6bn ($7.5bn) and would prevent wholesale changes from being implemented in the Old Trafford boardroom.
