Billionaire Jim Ratcliffe’s Bid for 25% Stake in Manchester United
Sir Jim Ratcliffe has made a substantial bid of approximately £1.3 billion for a 25% stake in Manchester United.
This offer presents the possibility of Ratcliffe taking control of the club’s football operations away from the Glazer family.
The United board is scheduled to vote on Ratcliffe’s proposal on Thursday, following the withdrawal of rival bidder Sheikh Jassim bin Hamad Al Thani.
Withdrawal of Sheikh Jassim and His 100% Takeover Pursuit
Sheikh Jassim had been pursuing a 100% takeover of the club, similar to Ratcliffe, and had offered a bid exceeding £5 billion.
However, Sheikh Jassim withdrew from the bidding process, expressing frustration with the process and the high valuation set by the Glazers.
Ratcliffe’s Sporting Portfolio and Potential Impact
Ratcliffe, a self-proclaimed lifelong Manchester United fan, previously attempted to acquire Chelsea but was unsuccessful.
His company, Ineos, already has sporting interests, including French Ligue 1 club Nice and Swiss club Lausanne.
Ratcliffe’s involvement in running the football arm of the club is seen as a potential move to address the concerns of supporters who have been demonstrating against the Glazer family’s ownership.
Gary Neville’s Questions and Concerns
Former Manchester United captain Gary Neville raised several questions and concerns about Ratcliffe’s offer in a lengthy social media post.
He emphasized the need for clarity on how a minority stakeholder could positively impact the club and whether a minority shareholder could influence club matters.
Neville expressed a preference for the Glazer family to fully exit the club, stating that they have overstayed their welcome in Manchester.
Manchester United Supporters’ Trust and the Call for Clarity
The Manchester United Supporters’ Trust issued a statement, highlighting the need for clarity in the ownership process.
They emphasized that supporters expect transparency and an end to the ongoing process.
The outcome should include new investment in the club, focusing on the interests of all stakeholders, rather than just existing or new shareholders. If Ineos acquires a 25% stake in the club, the trust has outlined questions that require answers for supporters to assess the merits of the transaction.
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