Sir Jim Ratcliffe is believed to be restructuring his offer to buy Manchester United in an attempt to break the deadlock in the takeover saga.
The British billionaire is working with his advisers to fight off a bid from Qatar after putting forward a proposal earlier this year to acquire 69% of shares in Manchester United owned by the Glazer family.
According to Bloomberg, holders of the club’s remaining stock had questions about this because it left little benefit to the likes of Lindsell Train, Ariel Investments LLC and Eminence Capital.
Sources close to Ratcliffe have told Bloomberg that he wants to address concerns over the terms of INEOS’ bid to takeover United.
It had been suggested previously that independent directors could be at risk of being sued for recommending any bid that favours one set of shareholders over another. But, in other words, that just sounds like holders of the club’s remaining stock are rooting for Sheikh Jassim bin Hamad Al Thani to be successful since he has made a proposal for 100% ownership of the club.
The report states that Sir Jim Ratcliffe and Sheikh Jassim’s bids are still being considered by the Glazers and Raine Group, as well as a potential minority stake sale which would see the American family remain at United.
After announcing that they had plans to welcome bids for a takeover last November, United fans are becoming increasingly impatient with the process. A ‘Glazers Out’ banner was flown over the Raymond James Stadium ahead of last night’s NFL clash involving the Glazer-owned Tampa Bay Buccaneers.
Furthermore, anti-Glazer chants get sung at every United game, as heard again at Turf Moor on Saturday.
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