The Glazer family’s search for new investors in Manchester United reaches the one-year mark on Wednesday, with boyhood fan Jim Ratcliffe still poised to take a 25 per cent stake in the club in the coming days.
The United owners announced on November 22 last year – during the Premier League’s World Cup recess – that they were “exploring strategic options” including a full sale of the club.
One year on, Ratcliffe, the billionaire founder of chemicals company Ineos, is understood to be on the verge of a £1.25billion deal to secure a 25 per cent stake in United, but sources have indicated that an announcement may not come now until next week.
If, as is anticipated, no deal is announced on the New York Stock Exchange on Wednesday, Monday would be the next earliest date that anything could be confirmed, with the Thanksgiving holiday period in the United States starting on Thursday.
Ratcliffe is set to acquire significant control of football operations at United as part of his investment when it is ultimately confirmed, while it has also been reported that he would provide an additional £245million to upgrade club infrastructure.
A takeover had been on the cards at one stage, with Ratcliffe and Qatari businessman Sheikh Jassim the two publicly announced figures in contention to complete a buyout of the Glazers.
Sheikh Jassim’s interest was first confirmed in February, but he withdrew from the process last month.
The Sheikh Jassim bid was understood to have eventually reached around double the 3.2billion dollar (£2.6bn) market valuation of the Premier League club as it stood in October.
The Qatari was believed to have also been prepared to pledge an additional 1.7bn dollars (£1.4bn) for infrastructure projects.
The Glazers took over at United with a £790m leveraged buy-out in 2005, but throughout their tenure have faced significant opposition from supporters, which has only grown in recent years at a club that have not won the Premier League since 2013.
Tensions rose noticeably in 2021 when the owners were heavily involved in plans to launch a European Super League, which were swiftly abandoned amid fan protests and opposition from football’s domestic and international governing bodies.
United announced last week that Richard Arnold was stepping down as chief executive after less than two years in the job.
Sources close to Ineos indicated they were not involved in Arnold’s departure, but it seems likely that further changes would be afoot once the deal is signed.
Get ahead of the day with the morning headlines at 7.30am and Fionnán Sheahan’s exclusive take on the day’s news every afternoon, with our free daily newsletter.
News Related-
Pedestrian in his 70s dies after being struck by a lorry in Co Laois
-
Vermont shooting updates: Burlington police reveal suspect’s eerie reaction to arrest
-
Grace Dent says her ‘heart is broken’ as she exits I’m A Celebrity early
-
Stromer’s ST3 Urban E-Bike Goes Fancy With Minimalist Design, Modern Tech
-
Under-pressure Justice Minister announces review of the use of force for gardaí
-
My appearance has changed because of ageing, says Jennifer Lawrence
-
Man allegedly stabbed in the head during row in Co Wexford direct provision centre
-
Children escape without injury after petrol bomb allegedly thrown at house in Cork City
-
Wexford gardai investigating assault as man is bitten in the face during Main Street altercation
-
Child minder’s husband handed eight year sentence for abusing two children
-
The full list of the best London restaurants, cafes and takeaways revealed at the Good Food Awards
-
Mazda CEO Says EVs 'Not Taking Off' In The U.S.—Except Teslas
-
Leitrim locals set up checkpoint to deter asylum seekers
-
Ask A Doctor: Can You Get Shingles More Than Once?