If the 25% takeover offer valued at an estimated £1.3 billion is accepted, Sir Jim Ratcliffe’s Ineos group wishes to take over the Glazer family’s leadership of Manchester United’s football operations division.
The billionaire British is rumored to be getting more and more certain that he will be able to secure what he hopes will be a buyout. The BBC was informed that Sheikh Jassim bin Hamad Al Thani, the banker from Qatar, who was his main rival, had pulled out of the race to purchase United. He became irate with the Glazers’ demands after his 100% offer fell short of their estimate. Each consortium had put forward offers totaling about £5 billion.
It’s unclear whether the Glazers would approve of an Ineos minority interest and how it would be organized. According to information obtained by BBC Sport, the agreement may be finalized during Thursday’s United board meeting.
According to rumors, Ineos believes that if it were to control the football department with a 25% stake in the team, it would appease disgruntled fans that the Glazers would stay at United.
“Can this work and what impact will it have on a struggling organization?” was the question posed on social media by former United captain Gary Neville.
Neville stated, “How does a minority stakeholder positively impact the club to achieve the above?” after his list of six “non-negotiable” conditions for a takeover. Is there any way a minority shareholder may influence the above?
“A complete exit for the Glazer family is and will always be my choice. They are unaware that they have overstayed their welcome in Manchester.”
“What supporters should expect at the very least now is some clarity and an end to this process,” stated a statement made by the Manchester United Supporters Trust. The result must also involve fresh funding for the team. It cannot be limited to the interests of current or potential shareholders.
“We demand that everyone prioritize the interests of Manchester United over their own.
“If the reports are true regarding Ineos obtaining a 25% stake in our club, there are several questions around the transaction that need clarity before supporters can make any judgment on its merits.”
The Glazer family, who paid £790 million to purchase United in 2005, declared in November 2022 that they might sell the team.
Demonstrations against the Glazer family have been held by United supporters both inside and outside Old Trafford. The team is currently ranked 10th in the Premier League after losing six of its 11 games played thus far in all competitions.