July 13, 2024
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Sir Jim Ratcliffe Nears £1.25bn Deal for 25% Stake in Manchester United Amidst Glazer Family’s Sale Consideration

A deal is anticipated to be finalized between Sir Jim Ratcliffe and Manchester United during the November international break, where his INEOS Group is set to acquire a 25% minority stake for approximately £1.25bn. The Glazer family, United’s current owners, expressed their intention to sell on November 22, 2022.

Both Ineos and Qatari banker Sheikh Jassim bin Hamad Al Thani submitted bids around £5bn each. However, they fell short of the Glazers’ valuation, and Sheikh Jassim withdrew his bid last month, citing a failure to meet the Glazers’ demands, even though his final offer was reportedly double United’s stock market valuation of $3.2bn (£2.64bn).

Jim Ratcliffe initially aimed to purchase the Glazers’ 69% majority share but later revised his plan to target a ‘majority’ stake. It was only when he further reduced his stake to an expected 25% that the likelihood of a deal progressed.

The specific structure and potential shareholding increase details remain unclear. However, it’s suggested that Ratcliffe may allocate around £245m for stadium-related infrastructure projects as part of the agreement.

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