As reported, Sir Jim Ratcliffe and his petrochemical giant Ineos have engaged in a protracted bidding wɑr with Qatari banker Sheikh Jassim bin Hamad al-Thani for ownership of the club. the biggest of English football, Manchester United.
Man Utd is about to change owners.
The third and final bidding round expired on April 28. However, a major complication in the five-month process of selling the Reds is the desire to stay at the club by co-chairs Joel and Avram Glazer.
According to the latest information from SunSport, the Glazer family has chosen Ratcliffe as the winner of the race to take over Man United. It is expected that the Raine group – which is organizing the sale of MU on behalf of the US-based Glazer family – is expected to confirm the winning bid within the next few days.
The Glazer family chose Sir Jim Ratcliffe as the winner of the race to take over Manchester United.
The move means an imminent exodus for the top apparatus at Old Trafford, including chief executive Richard Arnold – but not the Glazer brothers. United insiders have pointed out that the Glazers would rather sell majority control to Ratcliffe’s Ineos Sport than release the entire club to Qatar’s Sheikh Jassim.
It is known that Sheikh Jassim’s bid of £ 5bn is the highest amount offered and the Qatari owners want to take full control of the club. Meanwhile, the agreement of Sir Jim and Ineos is to want to hold 50% of the value of the team, which means that the Glazer family will still be able to take over Man United.
Unlike Sheikh Jassim’s wishes, the Glazers still want to take over Man United.
In addition, several US financial institutions have also bid to buy a minority stake in the club that could allow the Glazers to retain control and finance improvements to the Old Trafford stadium and training ground. Carrington.
Extreme fan groups such as the Manchester United Supporters” Trust have advocated an immediate full sale to sever all ties with the American family, to the frustration of some sections that the Ineos bid would give allowed Joel and Avram to stay.
Sky News reports that Ratcliffe’s latest bid includes terms that will help him complete a 100% acquisition of Manchester United in three years. In the current situation, however, the first victims of any revolution at Old Trafford could be chief executive Arnold and other senior management figures.
Ratcliffe can fully own 100% after 3 years