Manchester United has been on the market since November 2022, with the Glazer family still at the helm of affairs. However, Sir Jim Ratcliffe is determined to takeover by offering a fresh new offer to takeover.
The British billionaire, Sir Jim Ratcliffe, is not shying away from revising his purchase proposal for Man United to break the ongoing deadlock in the takeover saga. Earlier this year, he made a proposal to acquire 69 percent of the club’s shares, effectively transferring ownership from the Glazers. It is now apparent that Ratcliffe, who is the owner and founder of the INEOS group, is open to tweaking his offer to address any concerns held by the prospective holders of the remaining 31 percent of Man United.
The Glazers have held firm in their valuation of the club at £6 billion, with brothers Joel and Avram not showing any flexibility in this regard. In contrast, the other four siblings who share control are more inclined towards a sale, which keeps the possibility of a full or majority sale on the table.
Sir Jim Ratcliffe’s desire is to secure 69 percent of Manchester United, a move that could potentially allow Joel and Avram Glazer to retain a minority stake in the club. However, this approach has encountered resistance from the current minority investors, who are cautious about the implications of such a takeover on their positions. Notable investors like Lindsell Train, Ariel Investments LLC, and Eminence Capital have expressed concerns about the potential adverse effects of a Ratcliffe-led takeover.
Also, the Glazers are reportedly considering a bid from Qatari Sheikh Jassim, which would involve a complete 100 percent sale of the club. They are also exploring minority investment options through US hedge funds to maintain full control. Sheikh Jassim had previously presented a take-it-or-leave-it offer worth just over £5 billion in May, seemingly competing with Ratcliffe’s enticing proposal. However, the fact that the process is still ongoing four months later raises questions about Sheikh Jassim’s commitment to the deal, although his past resilience suggests he may not easily walk away from the negotiation table of the take over.