The Manchester United takeover saga rages on as Sir Jim Ratcliffe’s INEOS and Sheikh Jassim bin Hamad Al Thani remain determined to acquire the club. Despite the Glazers’ announcement almost a year ago that they would consider selling, there has been no change in ownership.
Multiple bids, including those from Sir Jim Ratcliffe’s INEOS and Sheikh Jassim bin Hamad Al Thani, have fallen short of the Glazers’ asking price, which has fluctuated from £6 billion to £10 billion.
Sir Jim Ratcliffe
Sir Jim Ratcliffe is working with his INEOS colleagues to restructure their bid
Recently, it was reported that Sir Jim Ratcliffe, founder and CEO of petrochemical company INEOS and a lifelong Manchester United supporter, is restructuring his takeover bid. He proposed a £5 billion deal to the Glazers that would allow them to retain a minority stake in the club for three years before INEOS assumes full control through a put-and-call agreement.
Although Ratcliffe is targeting the Glazers’ 69 percent ownership, their shares possess more voting rights, potentially allowing them to maintain influence. Despite these challenges, INEOS remains committed to securing a majority stake in the club.
Sheikh Jassim
Sheikh Jassim bin Hamad Al Thani has consistently pursued complete control of Manchester United, claiming to have been a lifelong supporter of the club.
He established the Nine Two Foundation before visiting Old Trafford in March, and he has submitted multiple offers. However, he insists on full ownership, and his £6 billion bid has yet to see progress, despite reports suggesting that it had convinced the Glazers.
The Glazers
The Glazer family remain open to selling Manchester United – for the right price
Reports have indicated that the Glazer family is seeking between £6 billion and £10 billion for Manchester United. Concerningly for the bidders, there is a possibility that the Glazers may opt for minority investment rather than a full sale. US investment firms, including Elliott Management, the Carlyle Group, and Ares Management, have proposed investment plans.
This approach would allow the Glazers to retain control while benefiting from additional funds, similar to what Liverpool’s owners, Fenway Sports Group, recently did by selling a minority stake to Dynasty Equity for £164 million. The incoming funds could be used to pay off pandemic-related bank debt and cover capital expenses. However, fans, former players, and neutral observers fear backlash if the Glazers choose this route.
The fate of Manchester United’s ownership remains uncertain, and the ongoing sale saga continues to divide fans and attract protests. The Glazer siblings, including Avram, Joel, Bryan, Darcie, Edward, and Kevin, are well aware of the potential consequences of their decision, having faced fan anger throughout their 18-year ownership tenure.
