As the prolonged Manchester United takeover saga continues, Britain’s richest man, Sir Jim Ratcliffe breaks silence on the bid alongside Qatari businessman Sheikh Jassim.
Ratcliffe expressed his commitment to buy the club while expressing concerns about the potential of his bid failing in the high-stakes deal.
The takeover process, which is headed for its eleventh month, has seen some level of unwillingness and conflicting reports from the Glazer family.
While initial reports favoured Ratcliffe’s proposal, Sheikh Jassim’s bid gained momentum, following its recent modifications. However, there is still no final decision made yet.
Also, rumours now suggest that the Glazers are contemplating withdrawing Manchester United from the market altogether, a move that could frustrate the club’s fanbase even more. Additionally, internal disputes among the Glazer siblings, who all profit from their shares, are said to have complicated the sale.
Ratcliffe’s proposed offer includes taking a controlling interest in the club while allowing Joel and Avram Glazer to temporarily retain a 20 per cent stake.
In an interview with INEOS.TV, Ratcliffe acknowledged his fears of a potential failure, describing it as “far too public and excruciating.”
He emphasized that the bid would have been unthinkable a few years ago but cited his experiences with Lausanne and Nice as valuable lessons in his pursuit of Manchester United.
While four siblings have expressed a desire to sell the club, Avram and Joel have been reluctant to relinquish control. Avram in particular, has shown emotional attachment to the club, attending matches and supporting the idea of outside investors financing major projects like stadium renovation.
The Glazers have also explored options involving minority investment from US firms such as Elliott Management, the Carlyle Group, and Ares Management. This approach will see the Glazers maintain their leadership roles at the club while accessing additional financial resources.