As the takeover conflict between INEOS and the Qatari financier continues, Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani are both still trying to acquire Manchester United.Similar to DFS, an ongoing sale is taking on at Old Trafford with no end in sight.
There hasn’t been a change in power at Manchester United since the Glazers said they would be “exploring strategic alternatives, including a sale,” over a full year ago. Sir Jim Ratcliffe’s INEOS and Sheikh Jassim bin Hamad Al Thani have made numerous bids, but they have all fallen short of the Glazers’ asking price.
It was first estimated to be £6 billion, but now, despite the club’s stagnation, it is said to be closer to $10 billion. The second appears an
For those who are seriously interested, the latter sounds like an impossible figure, but insiders maintain that the search for new money is still ongoing.
Twelve months into United’s sale, Mirror Football analyzes the situation.Let’s begin with the most recent news we have to report. It was widely reported last week that Ratcliffe, the founder and CEO of the petrochemical business INEOS and a devoted United supporter, was reorganizing his takeover effort.
Without getting bogged down in a sea of technical lingo, Sky News said that Ratcliffe had presented a £5 billion deal to the Glazers that would have allowed brothers Avram and Joel, the two family leaders in charge of running things at Old Trafford, to keep a small share in the club.before INEOS would fully take over in what is known as a put-and-call deal, in the club for three years.
Considering that the American family only owns 69 percent of United, Ratcliffe is attempting to acquire that share. The Glazers could still have some influence even with Ratcliffe in charge because their shares have the most voting rights of any other shareholders.
However, INEOS is continuing, and Mirror Football has learned that their 70-year-old CEO, one of the wealthiest men in Britain, is still determined to win the race despite Qatar’s fierce challenge.
Ratcliffe stated in July that his group had made a “decent offer,” and he added, “We have met with the Glazers a few occasions. To date,
the Glazers on several occasions. We’ve had some fruitful conversations with them. Even now, we still really want to do it. Additionally, we would be acting ethically. But ultimately, it is their choice, not ours.He has said he has supported things his entire life, like Ratcliffe.
There was a time when Sheikh Jassim appeared to be going head-to-head with his rival bidder with what he claimed to be a debt-free plan after establishing the Nine Two Foundation prior to his entourage visiting Old Trafford back in March. He made a last, fifth offer in June, but it still appears to be on the table.
