Sir Jim Ratcliffe is now set to win the race to buy shares in Manchester United. The INEOS owner is on the verge of clinching 25% of the club, with the view to making it a full takeover in the very near future. Ratcliffe beat Sheikh Jassim to the club.
Jassim pulled out this week. The Qatari owner’s bid was rejected by the Glazer’s, which forced him to rescind his offer and walk away from the process. INEOS and Ratcliffe are prepared to play the long game.
A vote is anticipated this week to bring Ratcliffe into power at Manchester United.
The INEOS Era:
As reported by Rob Dawson, a meeting will be held Thursday by the board at Manchester United. This meeting could see the vote passed to allow Ratcliffe to buy the 25% shares in the club.
INEOS and Sir Jim are likely to be given full sporting control at the club. The feeling is that a full takeover is wanted by INEOS by 2026. They have no intention of sitting back and never owning the club fully.
Sheikh Jassim offered almost double the £3.5billion valuation of the club, but it was ultimately turned down by The Glazer Family. Ratcliffe is ready to spend £1.5billion to buy 25% of the club.
John Murtough and Richard Arnold’s jobs are not safe. Ratcliffe could bring Sir Dave Brailsford and Jean Claude Blanc into the club to run operations.
A new era is upon Manchester United.
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