- Ratcliffe has been bidding for club
- Qatari group ahead in race
- United yet to be sold
WHAT HAPPENED? Ratcliffe had been earmarked as the leading contender to take over United in recent weeks but his bid has appeared to lose steam, amid reporting that the Qatari consortium bidding for the club are now confident of being selected as the preferred bidder. And a business journalist has now claimed there is no chance of Ratcliffe taking over.
WHAT THEY SAID: David Hellier told United View TV: “For my part, I picked up on another aspect of this which was to do with the Ratcliffe side.
“I was picking up from advisors to Man United that his bid, as things stand, is dead in the water.
“I mean absolutely dead in the water. And the reason for that is he’s proposing a structure that would buy out the Glazers, the majority shareholders, and not offer anything to the minority holders.
“The minority holders are slightly aggressive funds, mainly in the US, there are some in the UK. I was told they’ve made it clear to the Manchester United board, via a letter that was sent, that said: ‘If you recommend this offer which prejudices us, gives us no offer at all, we end up with discounted shares while the Glazers get everything. We will sue’."
THE BIGGER PICTURE: United have been stuck in limbo for some time regarding their takeover, with the process having taken months amid frustration both within the club and from supporters.
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WHAT NEXT? United will aim to formalise their takeover process this summer ahead of the 2023-24 season.