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Sir Jim Ratcliffe is set to pay up to £1.3bn and take control of football operations at Manchester United as part of a 25 per cent co-ownership deal.
Ineos’ founders are on the verge of ditching their majority stake ambitions and instead buying a minority stake in Manchester United after frustrated Qatari businessman Sheikh Jassim backed out of the deal citing disappointment over the Glazers’ valuation, reports suggest.
The Qatari banker’s team announced in February that they had submitted a fifth and final bid of more than £5 billion to secure full ownership of the club and a debt-free takeover as well as a commitment to new infrastructure projects. Have promised.
However, the businessman had become frustrated with numerous delays on the part of the Glazer family, and announced he was walking away from a deal in the past few days.
Meanwhile fans are continuing their protests against the Glazer family – who took over the club in 2005 – for pulling the sale of Manchester United, as the American family still owns around 69 per cent of the club.
Earlier this month it was reported that Ratcliffe was considering changing his offer to become a majority shareholder in the club and instead pursue a minority stake in United.
A board meeting is said to be held in the coming week, at which a final agreement could be reached between Ratcliffe, a lifelong Manchester United fan, and the Glazer family.
Meanwhile, Ten Hag’s side return to action next Saturday after the international break when they play already relegation-threatened Sheffield United at Bramall Lane.
Manchester United is currently ranked 10th in the Premier League.
