Sir Jim Ratcliffe and INEOS appear to be making progress in an attempt to securing Manchester United.
There is some breaking news to report on the takeover talks, courtesy of Matt Lawton and Matt Dickinson of The Times.
The report claims the Glazers and Raine Group are ready to discuss details of a sale with Sir Jim Ratcliffe, meaning that Qatari banker Sheikh Jassim bin Hamad Al-Thani is suffered a setback in the race to takeover Manchester United.
While outlets in the UK suggest Ratcliffe has moved ahead of Sheikh Jassim, RMC Sport in France claim that the Qatari consortium remain confident about the outcome in this process.
Ratcliffe has come up with an offer that enables Avram and Joel Glazer to remain involved, while buying out their siblings, but the petrochemicals billionaire will have control once a takeover is complete.
Lawton and Dickinson report: “Insiders believe that valuation, and Ratcliffe’s willingness to agree a deal that enables Joel and Avram Glazer to retain a 20 per cent stake in the club has proved a significant factor. The Qatari’s third and final offer for a 100 per cent buy-out came in below £5 billion, despite claims to the contrary.”
It’s also important to note that The Times aren’t completely ruling out Sheikh Jassim at this stage. Sources close to the group believe they remain part of the takeover process and it could be yet that they respond with an 11th-hour bid that forces the Glazer family to reconsider.
There is also a suggestion that there has been a breakdown in talks between Qatar and Raine Group.
That’s why I wouldn’t rule out the possibility of direct contact between Qatar and the Glazers in the coming days.
Maybe it’s too late and Sir Jim Ratcliffe is close to the finish line… Only time will tell.
Get the most important Manchester United news, opinion, interviews and exclusive features with the Stretty Newsletter – Ad Free! Kick off your afternoon with the Stretty News verdict on all matters Manchester United.
Crimes against the environment vs human rights abuses. Has anyone else noticed that you just can’t find a clean billionaire anywhere these days 🙄