02 October 2023 , 19:39
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Sir Jim Ratcliffe is considering purchasing a minority stake in Manchester United - which could end the 11-month takeover saga.
The Glazers put United up for sale last November but are yet to name a preferred bidder, with fans growing impatient. INEOS chief Ratcliffe is battling with Qatari banker Sheikh Jassim bin Hamad Al Thani for ownership of the Premier League club.
The Glazers, who are deeply unpopular among United supporters, are still undecided on whether to sell the club. Yet the Americans are under significant pressure to accept some kind of investment, with Old Trafford in dire need of redeveloping or rebuilding.
Ratcliffe is now sensing an opportunity to buy a minority stake in United, the club he's supported since he was a youngster. The billionaire known as Britain's Richest Man is thought to have a good relationship with the Glazers and could agree a deal.
As reported by Sky News, Ratcliffe is considering buying some of the Glazers' shares floated on the New York Stock Exchange (NYSE) - giving him a 25 per cent stake in United. That would ensure the Glazers remain in charge of the Red Devils.
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Even though the shares are floated on the NYSE, the Glazers would still need to accept an offer from Ratcliffe. It's claimed United's owners have slapped a minimum valuation of £6billion on the club, meaning a 25 per cent stake could cost Ratcliffe £1.5bn.
It's believed Glazer family are divided on selling United. Four siblings - Darcie, Kevin, Bryan and Edward - are happy to sell up, but Joel and Avram want to remain involved. Joel and Avram, who are United's co-chairs, are the most attached to the club.
Joel and Avram Glazer want to stay at Old Trafford (Getty Images)Do you think Sir Jim Ratcliffe will win the Manchester United takeover saga? Let us know in the comments below!
As such, Ratcliffe's new proposal could be suit Joel and Avram Glazer. It could also be Ratcliffe's first step to eventually becoming United's controlling shareholder. Yet the fans won't be happy if this takeover saga ends with the Glazers still in charge.
Yet if Ratcliffe does invest £1.5bn into United, that could immediately solve the Glazers' Old Trafford problem. United's owners must renovate or completely rebuild the famous ground soon, with the roof leaking during Saturday's game against Crystal Palace.
A successful working relationship between the Glazers and Ratcliffe seems a possibility, with the latter previously speaking highly of United's owners. The INEOS chief has described them as "charming" and "very nice" - "despite the press they get".
Ratcliffe isn't the only party interested in buying a minority stake in United. The INEOS chief and the Glazers are remaining tight-lipped on the takeover saga as part of their non-disclosure agreement, which means there could be a late twist yet.