Man Utd sale 'clauses' could see Ratcliffe beat Sheikh Jassim in takeover race

04 October 2023 , 17:04

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Man Utd sale 'clauses' could see Ratcliffe beat Sheikh Jassim in takeover race

Sir Jim Ratcliffe wants to attach clauses which would see him secure long-term ownership of Manchester United should he initially acquire a minority stake in the club.

Founder and chief executive of the petrochemical company, INEOS, Ratcliffe hopes to break the deadlock in United's 11-month sale saga by being more open-minded in his approach than rival bidder Sheikh Jassim bin Hamad Al Thani. Qatari banker Sheikh Jassim is at this stage unwilling to compromise on his proposal of an immediate full takeover, while Ratcliffe's team are considering purchasing a 25 per cent stake with an established route to taking majority control later down the line.

United announced in November 2022 that, in relation to the club's ownership, the board would be "exploring strategic alternatives, including a sale," but so far the Glazer family have refused to sell. Now, according to the Telegraph, the sale process remains in "good health" and the Glazers are still looking to seal "the right transaction," holding multi-layered discussions with interested parties including INEOS.

Given the complexities of a full takeover, Ratcliffe has told United's American owners that he's willing to be more flexible than Sheikh Jassim in order to overcome the financial hurdles which are currently holding up any deal. INEOS are reported to have joined US investment firms such as Elliott Management, Carlyle Group, Sixth Street Partners and Ares Management Corp in holding talks with the Glazers over a minority purchase.

Ratcliffe and co believe that their staggered approach could give them the best chance of eventually becoming the club's outright owners, ending the Glazers' much-maligned reign which began in 2005 after the late Malcolm Glazer initially purchased shares two years prior. INEOS have been involved in all three rounds of bidding so far, while Sheikh Jassim went on to table a fourth and then fifth offer worth around £5billion on June 7.

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Have your say! Should Sir Jim Ratcliffe purchase a minority stake? Give us your verdict in the comments section.

Sir Jim Ratcliffe is willing to be flexible in his bid (Peter Byrne/PA Wire)

Sheikh Jassim bin Hamad Al Thani wants to take full control of Manchester United

But the Glazers are holding out for at least £6bn to sanction an outright sale, a figure which the Qatari and Ratcliffe are reluctant to pay for the Premier League giants. In July, British billionaire Ratcliffe, 70, said that his party had submitted a "good offer," adding: "We have met with the Glazers a couple of times.

"We have had good discussions with them. We would still very much like to do it. And we would be doing it for the right reasons. But in the end it is their decision not our decision."

Nathan Ridley