Sir Jim Ratcliffe could beat Sheikh Jassim to Man Utd with ‘clause’ condition
Sir Jim Ratcliffe could steal a march over Sheikh Jassim in the race to own Manchester United by attaching clauses to his ownership bid.
The battle for the club continues as Ratcliffe and INEOS aim to oust the Glazer family and complete a full takeover of the club. However, their approach differs from that of rival bidder Sheikh Jassim bin Hamad Al Thani, sparking speculation about who will ultimately succeed in acquiring the prestigious football club.
Ratcliffe, the founder and chief executive of petrochemical company INEOS, is considering a strategic move that involves initially acquiring a minority stake in Manchester United. He hopes to attach clauses that would secure long-term ownership of the club, according to the Telegraph (via the Mirror ). On the other hand, Sheikh Jassim is adamant about an immediate full takeover and is unwilling to compromise on his proposal.
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The sale saga has been ongoing for 11 months, with United announcing in November 2022 that they would explore strategic alternatives, including a potential sale. However, the Glazer family, who have owned the club since 2005, have so far refused to sell.
Despite the complexities of a full takeover, Ratcliffe's team has expressed willingness to be more flexible than Sheikh Jassim in order to overcome the financial hurdles that are currently impeding progress.
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INEOS has joined several US investment firms, including Elliott Management, Carlyle Group, Sixth Street Partners, and Ares Management Corp, in holding talks with the Glazers regarding a minority purchase. Ratcliffe and his team believe that their staggered approach could provide them with the best chance of eventually becoming the outright owners of Manchester United.
The Glazers are reportedly holding out for at least £6 billion to sanction an outright sale, a figure that both Sheikh Jassim and Ratcliffe are reluctant to pay. Ratcliffe previously stated that his party had submitted a "good offer" and had positive discussions with the Glazers. However, he emphasised that the final decision lies with the current owners.
The competition between INEOS and Sheikh Jassim highlights the significance of Manchester United as a global football brand. The club's immense fan base and commercial potential make it an attractive investment opportunity. Both parties recognise the value and prestige associated with owning such a renowned football institution.
As the negotiations continue, football enthusiasts and supporters of Manchester United eagerly await the outcome. Will Ratcliffe's flexible approach and gradual acquisition strategy win over the Glazers? Or will Sheikh Jassim's insistence on an immediate full takeover prove successful? Only time will tell.
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