Sir Jim Ratcliffe is on the verge of a successful Manchester United takeover – but the British-born Qatari billionaire’s main rival, Sheikh Jassim Bin Hamad Al Thani, is considering an eleventh-hour bid
The Manchester United takeover saga is drawing to a close with Sir Jim Ratcliffe still at the helm.
A final decision on who will win the race for the Premier League giants is still pending and is unlikely to be made this weekend.
However, British-born billionaire Ratcliffe’s Ineos group has edged out the main rival bid by Qatari Sheikh Jassim Bin Hamad Al Thani, according to people close to the trial as it draws to a close.
It remains to be seen whether Sheikh Jassim’s group will make one last attempt to blow the competition out of the water. The Qatar party are believed to be far from conceding defeat and remain firmly in the game. The talks are ongoing. Even though the deadline for submitting definitive bids has passed, there still seems to be room for further maneuvering.
Mail Sport revealed last month that Ratcliffe had the edge when it came to making the final bids as he rated United higher than Sheikh Jassim. Among his suggestions was an option for Joel and Avram Glazer to initially remain at the club before later cashing out.
Sir Jim Ratcliffe (above) is the front runner to take control of Manchester United
The Glazer family announced in November 2022 that they were considering selling United after 18 years of highly disputed ownership
Qatar’s Sheikh Jassim Bin Hamad Al Thani (above) could make one last bid to buy United
This is seen as appealing to the American couple, the two members of the hugely unpopular owning family, who are keen to stay and continue to maximize their stakes in United.
While that would be unpopular with fans, the fact that the Glazers would ultimately commit to leaving could be enough to lure sections of the United fan base on board. Ratcliffe was the only party to value United at more than £5billion.
Raine Group, the New York-based merchant bank overseeing the sale, is believed to be close to finalizing an agreement with a preferred bidder. The situation has not changed as quickly as hoped, but a solution is in sight.
This weekend could well be a critical period with no options barred, although a decision is not likely until next week.
Should Ratcliffe be successful, he would take around 50 per cent of United while the two Glazers would hold around 25 per cent. The Oldham-born petrochemical magnate would spend around £2.5billion on it.
It would also give him an opportunity to allocate funds that may have been used to take on a greater share of infrastructure and roster strengthening.
