Manchester United takeover saga has taken a significant turn with Sir Jim Ratcliffe set to buy a 25% stake in the Premier League club.
According to the Daily Mail, Ratcliffe’s bid for Man United is viewed as the first step in a gradual takeover. The proposal will be approved at a board meeting next week.
This news comes just a few minutes after Qatari businessman Sheikh Jassim bin Hamad al Thani withdrew his offer for the club.
Sheikh Jassim, via his Nine Two Foundation investment vehicle, was keen to take full control of United.
BBC reported that the Qatari banker ‘had bid £5 billion for the club, but further talks this week have broken down’.
The Glazers announced last November that United could be sold as they were looking for fresh investments.
The Glazers are here to stay
With the Qatari consortium pulling out of the takeover race, Ratcliffe has a clear pathway to strike a business relationship with the Glazers.
Avram and Joel Glazer are reportedly reluctant to sell and want to remain in control of the club.
Ratcliffe’s offer to buy a minority stake would perfectly meet their ambitions.
The whole takeover saga has been very frustrating for all stakeholders, especially United fans.
The potential result will be heartbreaking for them.
Heavy investment is required to improve the stadium and the training facilities.
Erik ten Hag need funds to sign quality players who can help the team challenge for the major trophies.
The United fans are getting the worst possible outcome from this saga – someone buying a minority stake – leaving the Glazers in charge of the club.
