Sir Jim Ratcliffe To Acquire United Share

The Founder and Chief Executive Officer of INEOS will pay £1.3bn for 25% of Manchester United following the withdrawal of Qatari businessman Sheikh Jassim bin Hamad al Thani from the bidding process.

The offer from Sheikh Jassim was understood to be higher than his unsuccessful bid in June but it was still deemed unsatisfactory by the Glazer family, the current owner of Manchester United, despite the bid being far more than the clubs $3.3 bn (£2.7bn) valuation on the New York Stock Exchange.

Sheikh Jassim’s offer, which valued United at more than £5bn, was believed to be the only bid for 100% of the club.

But it is understood that the Qatari’s valuation was not sufficient for the Glazers, who have owned United since 2005, so Sheikh Jassim has withdrawn from the process.

Ratcliffe, who has been of a fan of the club since childhood, will learn if his bid is successful following United’s board meeting this week.

If ratified, the deal for 25% of the Red Devils will see Ratcliffe and his company manage the club’s football operations.

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