- Ratcliffe seeks minority stake at United
- Glazers consider his and Qatari offer
- Ineos owner trying to outflank rival bidder
WHAT HAPPENED? Ratcliffe's Ineos Group and Qatari Sheikh Jassim bin Hamad Al Thani lodged bids of around £5 billion ($6bn) for United earlier this year but neither were accepted by current owners the Glazer family. While Sheikh Jassim's team was only interested in a 100 percent buyout, Ratcliffe had wanted a majority stake. Now, The Telegraph reports the Ineos owner, who bought OGC Nice in 2019, is trying to outmanoeuvre the Sheikh by attaching long-term ownership clauses to a new 25 percent bid for United. They claim the Briton has taken a significantly more 'flexible' approach to finding the right deal, although his bidding rival undoubtedly has more financial power at his disposal. This comes amid the Glazers reportedly holding 'multi-layered' discussions with other suitors in recent times, therefore, Ratcliffe is coming at this with a new strategy.
THE BIGGER PICTURE: The Glazers announced last November they were considering selling the Premier League giants, with mounting calls from fans and pundits alike to move on after taking over in 2005. But despite seemingly being closer than ever before to selling the club, a breakthrough is yet to happen. The American family own approximately 69 percent of United and the rest is spread among multiple stakeholders who own shares listed in the United States. Buying a minority stake may not go down too well with fans as many want the Glazers out for good, rather than retaining a significant shareholding in the club.
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GettyWHAT NEXT? Ratcliffe's reported move may bring the drawn-out sale process to an end after months of gridlock. It will just be a case of wait and see.
