Ineos chief Sir Jim Ratcliffe has nudged ahead of Sheikh Jassim bin Hamad Al Thani after revising his offer for Manchester United following months of talks and bids
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Erik ten Hag is under pressure at Old Trafford
Sir Jim Ratcliffe has reportedly emerged as the frontrunner in the race to acquire Manchester United ahead of Sheikh Jassim bin Hamad Al Thani.
Both Ratcliffe and Sheikh Jassim have submitted multiple bids for United since the club’s owners, the Glazer family, announced they were seeking “strategic alternatives” last November.
The process has gone quiet over the past few months, though, after a deadline for final bids passed. However, it had emerged in recent weeks that Ratcliffe was planning to submit a revised offer in a bid to strike a deal ahead of his Qatari rivals.
And Bloomberg are now reporting that Ratcliffe’s revised proposal has ‘given him the edge’ over Sheikh Jassim, who has previously stressed he is only interested in purchasing the club outright.
The report goes on to outline that the Ineos chief is in talks with the Glazers and their advisors over the structure of a deal, according to sources with knowledge of the matter.
It is understood that Ratcliffe could acquire an initial 25 percent of the club in a deal which would value United at around $6.1 billion (£5bn). The sale of a minority stake is favoured by the Glazers, who would remain in charge with such a deal.
And while it is claimed the Glazers are ‘closer than ever’ to agreeing a deal, the report goes on to stress that there is ‘no certainty’ such talks will lead to an agreement. It is also noted that the Qatari group could also still increase their bid, while the Manchester United board will meet in the next few days in order to discuss the latest developments.
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Sir Jim Ratcliffe is reportedly now the frontrunner to purchase Manchester United (
Image:
PA)
United fans have protested against the Glazers on numerous occasions since they acquired the club back in 2005. The American family are highly unpopular at Old Trafford and have repeatedly been urged to sell up.
The club have struggled on the pitch this season, with manager Erik ten Hag overseeing the worst start to a season in 37 years. The Dutchman enjoyed moderate success during his maiden season last term by securing a top-four finish and winning the Carabao Cup.
The Red Devils will not play this weekend during the international break but will resume their Premier League campaign next weekend when they face strugglers Sheffield United at Bramall Lane.
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