Manchester United supporters are eagerly awaiting the conclusion of the long-winded takeover process, with Sheikh Jassim and Sir Jim Ratcliffe leading the race to buy the club
Sir Jim Ratcliffe is set to take a huge lead in the race to buy Manchester United, with the INEOS chief to be named the preferred bidder imminently.
United’s much maligned owners, the Glazer family, set the wheels in motion for investment last year, announcing they would look for “strategic alternatives” including a full takeover. That kickstarted a long and laborious process which has already seen three rounds of offers being made.
The American ownership group are hoping for a world record £6 billion for the Premier League giants and enlisted the help of US merchant Raine Group to oversee the transaction. Ratcliffe, once Britain’s richest man, has been in the running for the entire process, along with Qatari banker Sheikh Jassim bin Hamad al-Thani.
Sheikh Jassim is adamant that he wants to acquire 100 per cent of the club and will make his bid completely debt free. “The bid plans to return the club to its former glories both on and off the pitch and – above all – will seek to place the fans at the heart of Manchester United Football Club once more,” a statement released in February reads.
“The bid will be completely debt free via Sheikh Jassim’s Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience, and communities the club supports.”