Sir Jim Ratcliffe is expected to pay almost $1.8 billion to acquire 25% of Premier League team Man United, giving the club a new owner.
After making a major advancement over the past two weeks, the INEOS CEO’s share is anticipated to be confirmed in a board meeting the following week. Ratcliffe values the Manchester club at about $7.5 billion, according to Ben Jacobs, and the long-term goal is to usurp the Glazer family’s current level of ownership.
Ratcliffe aims to be very hands-on and will look to install the highly regarded Paul Mitchell as the club’s sporting director, which will frustrate many United supporters who just want the American family out of their team.
According to Jacobs, Qatar was aware of this, and it played a role in their decision to withdraw from the bidding process earlier on Saturday.
Sir Jim Ratcliffe is set to buy 25% of #MUFC for around $1.8bn. His club valuation is around $7.5bn. As previously reported, this is with a view to eventual control. INEOS always clear that's their aim. pic.twitter.com/GGFA4br7cD
— Ben Jacobs (@JacobsBen) October 14, 2023
Fabrizio Romano claims that Sheikh Jassim of Qatar offered a 100% cash purchase for Manchester United that eliminated all outstanding debt. As a result of the Glazers rejecting his final offer, which was said to be nearly twice the $3.5B market worth of Manchester United, Qatar withdrew from the competition.
Ratcliffe’s route was the only one to become engaged with the Manchester club because it is now obvious that the Glazers do not currently intend to sell Man United. The British will now begin his effort toward someday purchasing the entire club, and United supporters will jubilantly celebrate this day.
