Sir Jim Ratcliffe is prepared an offer to purchase a 25% stake in Manchester United, following Sheikh Jassim bin Hamad Al Thani’s withdrawal from the process.
British billionaire Ratfcliffe and Qatar’s Sheikh Jassim have been the high-profile contenders in the race to takeover the Premier League side, but a lengthy saga has since seen each of the suitors frustrated in their bid to purchase the club.
The club’s current ownership, the Glazer family, first announced an intention to sell their shares in November 2022, but their record-breaking valuation has led to a series of rejected bids in recent months.
Sheikh Jassim – whose offer was for a 100% takeover and worth more than $8bn in total package – has now withdrawn from the process, leaving the path clear for Ratcliffe to agree a deal with the Glazers.
Ratcliffe, the chairman and chief executive officer of the INEOS chemicals group, has expressed interest in a minority stake and Fabrizio Romano is reporting the 70-year-old is preparing an offer for 25% of the club.
As part of the deal, Ratcliffe will demand ‘sporting control’ at Old Trafford and future major ownership. The Manchester United board are expected to vote on the matter in the coming days. Ratcliffe has been involved with French side Nice since 2019.