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During the upcoming international break, there is a possibility that Sir Jim Ratcliffe may complete a transaction to acquire a minority stake in Manchester United.
Ineos Group, headed by Ratcliffe, is anticipated to offer around £1.25bn for a 25% share in the Old Trafford team. This deal will also grant them considerable authority over the club’s football activities.
Although there is no set schedule for when the agreement will be completed, the PA news agency has learned that it may happen as soon as next week. Ineos is hopeful that it will be finalized before the Premier League season resumes on November 25 following the international break.
The possibility of the deal being finalized on Monday has been rejected, as that coincides with Sir Bobby Charlton’s funeral.
Nearly one year has passed since the Glazer family declared on November 22, 2022 that they were exploring potential options to support the growth of the club, including the possibility of a sale.
The Glazer family received offers from many parties, including Qatari Sheikh Jassim bin Hamad Al Thani and Ratcliffe, for a potential takeover worth around £5bn. However, their valuation was not met by these offers.
Last month, Sheikh Jassim opted out of the process, while Ratcliffe persisted in seeking a smaller ownership stake that could potentially be raised in the future.
The 71-year-old individual, who attempted to purchase Chelsea in the previous year, was raised in the Manchester area and identifies as a devoted supporter of United.
Ratcliffe strategically outwitted Sheikh Jassim to secure the top spot for a share in Manchester United.
The agreement is anticipated to result in significant changes to United’s football operations. It is expected that Sir Dave Brailsford, the ex-performance director of British Cycling, will have a significant role as the director of sport for Ineos.
The team currently possesses ownership of Nice, a French Ligue 1 club, and Lausanne, a Swiss club. They also have ownership of the Ineos Grenadiers cycling team and Ineos Britannia, the sailing team captained by Sir Ben Ainslie.
Last week, Toto Wolff, the team principal of the Mercedes Formula One team, announced that he would potentially invest in Manchester United once Ratcliffe’s deal is finalized. This is because they also have a stake in the Mercedes team.
There is ongoing speculation and uncertainty surrounding the ownership of the club, coinciding with United’s struggles on the field.
Erik ten Hag’s team suffered a devastating 4-3 loss to Copenhagen on Wednesday, resulting in them being at the bottom of their Champions League group. In addition, they are currently in eighth place in the Premier League, with nine losses out of 17 games across all competitions.
Source: independent.co.uk
