Sir Jim Ratcliffe bid for Man Utd ‘dead in the water’ in big Sheikh Jassim boost

Ten Hag details meeting with Ratcliffe amid Man Utd bid

Sir Jim Ratcliffe’s bid to buy Manchester United is ‘dead in the water’, it has been claimed. The INEOS chief is hoping to strike gold at the second attempt, having missed out on purchasing Chelsea last year. This latest development, however, would hand rival Sheikh Jassim a massive boost.

Ratcliffe is keen to acquire United and, though he’s had a season ticket at Chelsea, insists he’s a fan of the Red Devils.

But Business journalist David Hellier, speaking to @Unitedviewtv, has now claimed the 70-year-old’s bid is ‘dead’.

“For my part, I picked up on another aspect of this which was to do with the Ratcliffe side.

“I was picking up from advisors to Man United that his bid, as things stand, is dead in the water.

“I mean absolutely dead in the water.

Read more Man Utd are asking for help to sign the perfect mentor for Alejandro Garnacho

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

“And the reason for that is he’s proposing a structure that would buy out the Glazers, the majority shareholders, and not offer anything to the minority holders.

“The minority holders are slightly aggressive funds, mainly in the US there are some in the UK.

“I was told they’ve made it clear to the Manchester United board, via a letter that was sent, that said ‘if you recommend this offer which prejudices us, gives us no offer at all, we end up with discounted shares while the Glazers get everything. We will sue’.

“I was then being told by the Man United side that they have three independent directors.

“And those directors would never, ever sanction or recommend that bid under these circumstances with this threat.”

Don’t miss…
Sheikh Jassim expected to make drastic change if Man Utd takeover goes through[LATEST]
Man Utd name price for Jadon Sancho and Harry Maguire as 13 players ‘face axe'[TRANSFER NEWS]
Glazers ‘won’t sell’ Man Utd with Sheikh Jassim failure to cause ‘uproar'[NEWS]

While that seems to hand Sheikh Jassim a substantial boost, however, it’s still unclear what will happen.

The Glazers could even end up staying at Old Trafford and accepting an offer of minority investment instead.

Yet that would risk upsetting fans who have long wanted to see the back of the Americans.

Another critic of the Glazers has been Gary Neville.

And the United legend, speaking recently, took aim at the family for ‘leaving fans in the dark’.

He said: “What you want from leaders is good, clear communication.

“The Glazer family do the exact opposite.

“They’re in a position of authority, looking after a community – and United’s fans around the world are a global community – but the Glazers haven’t communicated with them for nearly 20 years.

“The sale process is extending to an unpalatable length, everyone’s in the dark, and it’s symptomatic.

“They have to exit, but I haven’t got faith that they’ll do the right thing.”

Neville also admitted he’d be unhappy if Ratcliffe kept the Glazers at the club.

“I’d like the Glazers to leave in full, even now with how they’re dealing with the sale process, which means it’s ultimately dragged out,” he said.

“They can’t make a decision and there are other examples of that. They can’t deal with things that are difficult.

“Hopefully we can have a full exit, but with the Ratcliffe bid, it looks like a part exit with two of them staying [Joel and Avram]. I don’t like the idea of that.

“If that bid comes forward and is successful, which is the talk, I’d like to think there’s a fixed exit for the Glazer brothers organised in let’s say, two years, so we know they’re leaving.

“Ratcliffe comes in and brings in another investor to take them out.” 

Source: Read Full Article