Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani are battling for power at Manchester United, with the Glazers yet to reveal their preferred bidder in the takeover process.
INEOS chief Sir Jim Ratcliffe is hoping he will be success this time around, having missed out on purchasing Chelsea last year.
And, the latest development in the Manchester United takeover story seems to hand bidding rival Sheikh Jassim the upper hand.
Business journalist David Hallier recently appeared on the United View TV (YouTube channel) and said Sir Jim Ratcliffe’s bid was ‘dead in the water’.
Hallier said: “For my part, I picked up on another aspect of this which was to do with the Ratcliffe side.
“I was picking up from advisors to Man United that his bid, as things stand, is dead in the water.
“I mean absolutely dead in the water.
“And the reason for that is he’s proposing a structure that would buy out the Glazers, the majority shareholders, and not offer anything to the minority holders.
“The minority holders are slightly aggressive funds, mainly in the US there are some in the UK.
“I was told they’ve made it clear to the Manchester United board, via a letter that was sent, that said ‘if you recommend this offer which prejudices us, gives us no offer at all, we end up with discounted shares while the Glazers get everything. We will sue’.
“I was then being told by the Man United side that they have three independent directors.
“And those directors would never, ever sanction or recommend that bid under these circumstances with this threat.”
🚨 EXCLUSIVE: "So essentially, i was told by sources that Ratcliffe's bid is dead."@business' @hellierd reveals to @FlexUTD that Sir Jim Ratcliffe's INEOS takeover bid is effectively dead as things stand due minority shareholders threat of legal action against the #MUFC board. pic.twitter.com/W3QXJAj4nf
— United View (@unitedviewtv) June 29, 2023
Qatar growing in confidence
You can read Hallier’s latest article on the sale of Manchester United here via Bloomberg. This is where he states the Qatari group led by Sheikh Jassim is increasingly confident it’s won the race for Manchester United.
Hallier reports: “Those within the inner circle of the Qatari bid have now begun communicating their confidence of victory and believe it’s just a matter of time before an official announcement is made, according to the people.”
The takeover is now reaching it’s eight month and fans are running out of patience with the Glazer family.
Get the latest 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.
