The Manchester United takeover saga has seemingly entered the decisive phase, with reports suggesting that INEOS’ Sir Jim Ratcliffe could finalize a deal as early as this week. The news arrives after Qatari businessman Sheikh Jassim bin Hamad al Thani pulled out from the takeover race, leaving Ratcliffe with a seemingly unassailable lead.
Manchester United To Receive £1.3 Billion From Ratcliffe
In November 2022, Manchester United’s current owners, the Glazers family announced they were open to accepting strategic alternatives, fuelling speculation that a full takeover could be on the cards. Over multiple rounds of bidding, Ratcliffe and Jassim emerged as the two frontrunners in the takeover race. According to Sky Sports, Jassim only wanted 100% control of the club while Ratcliffe was happy to become a major investor by acquiring 25%.
According to the aforementioned source, Jassim tabled a whopping £5 billion ($6.09 billion) offer for 100% ownership of the club in June, which is £1.7 billion ($2.07 billion) higher than United’s value on the New York Stock Exchange. Despite putting down such a handsome bid, Jassim failed, as the Glazers found the offer to be inadequate. Having failed to convince the Glazers, Jassim withdrew from the race on Saturday (October 14), making Ratcliffe the lone man standing.
As per Sky Sports, Ratcliffe wants 25% of the club, which will allow the Glazers to remain in control. The British businessman is prepared to pay a staggering £1.3 billion ($1.58 billion) for the minority stake in the club, which is proportionately higher than what Jassim was willing to pay for 100%. The club’s board could reportedly meet with Ratcliffe this week to sanction the deal.
Sheikh Jassim Would Have Been ‘The Dream Owner’ Of Manchester United
Shortly after the news broke about Jassim’s withdrawal, soccer insider Fabrizio Romano outlined some plans of the Qatari businessman. According to the Italian journalist, Jassim believes that he would have been the perfect man to take over Manchester United. He would have paid it all in cash and cleared all the debts the club had. It would have allowed United to start afresh and compete with the leading teams in the Premier League.
Romano further revealed that Jassim’s total investment package would have been worth more than $8 billion.
The Glazers’ decision to snub Jassim and remain in control of the club has not sat well with the club’s supporters, with them continuing to demand the Americans’ resignation.
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