Man United Takeover: Sir Jim Ratcliffe was once a front-runner for the United takeover but his deal is still hanged. Now, he is making a new plan to crack this deal at Old Trafford. However, he will face competition from Qatar’s bidder Sheikh Jassim bin Hamad Al Thani. The British billionaire could team up with another party to complete the Manchester United takeover. He recently had a meeting with the club owner and also visited the club’s training ground where he met United manager Erik Ten Hag. Follow Premier League LIVE Updates on Insidesport.IN
The 70-year-old billionaire remains locked in a battle with Al Thani and up to six other interested parties as they approach Wednesday’s deadline for fresh bids. Ratcliffe and the Qatari banker are both believed to have made initial offers worth £ 4.5 billion in February.
Meanwhile, the Glazer family are looking for a world-record sale amid their £6bn asking price. Ratcliffe had a conversation with United officials and his entourage impressed club chiefs last Friday.
Mirror Football reports that Qtatar bidder will launch a huge £5.5bn follow-up offer for the takeover of Manchester United. It might solve the Glazer family’s plans but it can hurt Ratcliffe. So, the British billionaire may have a trick up his sleeve.
What’s in the plan of Sir Jim Ratcliffe?
The 70-year-old bidder is considering linking up with few parties in the pursuit of club ownership, according to the Daily Mail. With the help of these parties, they can edge Al Thani and win the battle for Old Trafford. US hedge fund Elliott Management are open to financing any takeover and Bloomberg claimed more than a month ago that Ratcliffe had lined up banks including Goldman Sachs to bankroll his pursuit.
The banks would be prepared to back a takeover offer through bonds and loans to cover United’s existing debt, which currently stands at just below £515million.
In a recent interview with the Wall Street Journal, chief executive of INEOS – said: “How do you decide the price of a painting? How do you decide the price of a house? It’s not related to how much it cost to build or how much it cost to paint. What you don’t want to do is pay stupid prices for things because then you regret it subsequently.”
Ratcliffe also noted the difference between his pursuit of Old Trafford and the company’s other investments. “That in a sense goes without saying, because sport is emotional,” he affirmed.
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