Sir Jim Ratcliffe will conclude a deal for 25% of Manchester United following the departure of Qatari Sheikh Jassim bin Hamad al-Thani from the takeover bid. The Glazer family would remain at the club following the acquisition.
Sheikh Jassim bin Hamad al-Thani, a Qatari banking billionaire, has dropped his £5 billion offer for Manchester United.He told Raine Group that he was withdrawing his interest.
Ratcliffe is the last remaining bidder at the bargaining table. The agreement offered by Britain’s richest billionaire, on the other hand, would keep the reviled American owners in charge.
Ratcliffe’s offer values United at somewhat more than £5 billion, however he would initially buy only a 25% share in the club. The Glazers have been unable to reverse a slide on the pitch that began a decade ago with Sir Alex Ferguson’s departure. They have owned the club since 2005 and are asking £6 billion to sell it.
However, two members of the American family, Joel and Avram, have stated their preference for outside investment to help finance a £1 billion-plus Old Trafford renovation. They believe that with the appropriate support, United’s valuation might eventually exceed £10 billion.
Erik ten Hag, the current manager, has spent £335 million on new players since taking over at Old Trafford in the summer of 2022. However, United have lost four of their first eight Premier League games and have been defeated in the Champions League by Bayern Munich and Galatasaray.
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