{"id":118502,"date":"2023-11-10T10:01:35","date_gmt":"2023-11-10T10:01:35","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/11\/10\/sir-jim-ratcliffes-minority-stake-close-to-being-agreed\/"},"modified":"2023-11-10T10:01:35","modified_gmt":"2023-11-10T10:01:35","slug":"sir-jim-ratcliffes-minority-stake-close-to-being-agreed","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/11\/10\/sir-jim-ratcliffes-minority-stake-close-to-being-agreed\/","title":{"rendered":"Sir Jim Ratcliffe’s minority stake close to being agreed"},"content":{"rendered":"

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Sir Jim Ratcliffe\u2019s deal to become a minority shareholder in Manchester United is expected to be agreed during this month\u2019s international break, possibly as early as next week.<\/p>\n

It is expected Ratcliffe\u2019s Ineos Group will pay around \u00a31.25bn to buy 25%.<\/p>\n

United\u2019s owners the Glazer family announced on 22 November 2022 they were considering selling the club.<\/p>\n

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Ineos and Qatari banker Sheikh Jassim bin Hamad Al Thani both made offers, tabling bids of around \u00a35bn.<\/p>\n

However, neither bidder was willing to reach the Glazer family\u2019s valuation, with co-chairs Joel and Avram Glazer both known to be reluctant sellers.<\/p>\n

Sheikh Jassim\u00a0withdrew from the process last month,\u00a0claiming his final bid, thought to be double United\u2019s $3.2bn stock market valuation, had not met the Glazers\u2019 demands.<\/p>\n

Ratcliffe had already amended his initial plan to buy the Glazers\u2019 69% shareholding and reduced it to a \u2018majority\u2019 stake.<\/p>\n

However, it was only\u00a0when he reduced it again,\u00a0to an anticipated 25%, that the potential for an agreement increased.<\/p>\n

It is not entirely clear what the structure of the deal will be, nor if there will be specific dates that would allow Ratcliffe to increase his shareholding. It is thought around \u00a3245m in additional funds will be made available by Ratcliffe for infrastructure works related to the stadium.<\/p>\n

It has been reported Ratcliffe wants to assume\u00a0control of the football operations side of the club.<\/p>\n

Sources with a close working knowledge of Ratcliffe have told BBC Sport it was \u201cimpossible to imagine\u201d he would agree to being a silent partner.<\/p>\n

Many, both at United and in close proximity, believe the club will benefit from \u201ca new pair of eyes\u201d looking at how it is run.<\/p>\n

It is expected Sir Dave Brailsford, the former performance director at British Cycling, will be heavily involved.<\/p>\n

The precise date for confirmation of the deal is still to be formalised, although BBC Sport has been told it will not be on Monday given that is the date of Sir Bobby Charlton\u2019s funeral.<\/p>\n

Fans opposed to the Glazers\u2019 continued involvement at United, potentially retaining a majority stake, intend to renew their protests at Saturday\u2019s Premier League game against Luton at Old Trafford.<\/p>\n

United are struggling on the pitch this season, having lost nine of their 17 games, sitting bottom of their Champions League group and eighth in the Premier League.<\/p>\n

The Glazer family, who bought United for \u00a3790m in 2005, said in November 2022\u00a0they were to \u201cexplore strategic alternatives\u201d for the club.<\/p>\n

Petrochemicals firm Ineos already owns French Ligue 1 club Nice and Swiss club Lausanne.<\/p>\n

Its sporting portfolio also includes high-profile sailing team Ineos Britannia \u2013 led by Sir Ben Ainslie \u2013 which is aiming to win the 2024 America\u2019s Cup for Great Britain.<\/p>\n

Ineos also has a five-year partnership with Formula 1 team Mercedes \u2013 where it has a 33% minority stake \u2013 and took over the British-based Team Sky in cycling in 2019.<\/p>\n

Ratcliffe, who says he is a lifelong United fan, tried and failed to buy Chelsea last year.<\/p>\n

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