Manchester United’s protracted takeover process, which started late last year, might soon be nearing an end if a recent report is to be believed.
When the Glazers announced a strategic review of the club, fans were hopeful that a full sale would ensue, meaning an end to the American family’s regime.
Two bidders — Sir Jim Ratcliffe and Sheikh Jassim bin Hamad al Thani put in bids of contrasting fashion with the INEOS chairman eyeing a majority stake while the Sheikh wanted 100% of the club.
Sir Jim Ratcliffe’s minority offer
The greedy Glazers refused to budge from their exorbitant stance and time kept passing and it almost seemed like they were reluctant to sell.
In order to break the impasse, INEOS decided to modify their approach and instead opted to agree a minority stake which would see the greedy Glazers continue to remain at the helm.
The Qatari prince left the race and fans were left deeply disappointed as they will now have to continue enduring the Glazers being in charge of the club.
However, Ratcliffe’s minority stake offer is yet to be ratified with reports claiming that this delay will mean the British billionaire might not be in time to salvage the season by spending big in January.
Football Insider have now claimed the opposite, stating that Ratcliffe’s offer will be ratified soon and he will become a minority stakeholder within the year.
“Sir Jim Ratcliffe is on course to complete the first stage of his Man United takeover within weeks and before the start of the New Year, sources have told Football Insider.
“United’s board are currently finalising the details of the agreement before Ratcliffe’s investment is officially announced. It is understood that the 71-year-old will have no issues passing the Owners’ and Directors’ Test with the Premier League.
“Once the final details are agreed upon by both parties, the takeover process is set to accelerate quickly and Ratcliffe is expected to be part of United’s board by the end of the year.
“It is unclear how much decision-making power Ratcliffe will have during the first few months at the club.”
Ratcliffe might be a board member within 2023
Whether there is time for him to arm the club with a sizeable budget for the January transfer market remains to be seen.
The INEOS chairman’s ultimate plan is to buy out the Glazers in the next couple of years and ensure he becomes the primary owner.
Ratcliffe’s latest proposal includes buying an initial 25 percent stake in the club in a deal worth around £1.4billion. He will be given the licence to handle the sporting side of things at the club as per reports.
Ratcliffe is eyeing a major shakeup of the footballing structure as well while also eyeing an upgrade on Old Trafford which would see its capacity expanded to 90,000.