Sir Jim Ratcliffe is prepared to revise his proposal for the acquisition of Manchester United.
Qatari banker Sheikh Jassim and the British billionaire is in a bidding war to buy the club from Glazer’s family.
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Despite the American owners submitting the side for sale in November of last year, no agreement has been reached. The negotiations have now reached a dead end.
However, Ratcliffe, 70, has not given up on his attempt to buy United.
The CEO of Ineos and his advisors are reportedly attempting to modify their offer in order to end the saga, according to Bloomberg.
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Earlier this year, Ratcliffe made a bid to purchase 69 per cent shareholding in Man Utd. But the bid did not sit well with minority sh areholders such as Lindsell Train and Ariel Investments LLC. They opposed the bid.
The situation escalated to the point where the chief allegedly threatened to take legal action. The chief said if the sale of the business was deemed to favor one party more than the other.
Ratcliffe is now seeking to address these issues and is prepared to implement a new approach.
The Glazer family are reportedly asking for a sum of £6 billion, with speculation suggesting that a bid of £10 billion would satisfy all parties involved.
However, earlier this month, it was revealed that the Glazer owners were no longer willing to consider a sale, resulting in a drop in the club’s shares.
The share price fell by 21% before recovering slightly to finish 18% lower, making it Man Utd’s worst-ever trading day on the stock exchange since joining in 2012.
The crash wiped £600m off the team’s value, leaving the valuation at £3.3 billion.
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