Sir Jim Ratcliffe Just Topped Sheikh Jassim’s Three Bids For Manchester United

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Sir Jim Ratcliffe’s Ineos Group is thought to have made a better offer than Qatar’s Sheikh Jassim, moving Ratcliffe one step closer to acquiring control of Manchester United, according to BBC Sports.

The news follows Sheikh Jassim’s submission of two additional bids after his first $4.5 billion proposition in March

The deadline for the third and final bids to purchase the club ended on Friday night, where Sheikh Jassim submitted a second bid in his name and a third through Qatar Islamic Bank, of which he is a chair.

Sheikh Jassim bin Hamad Al Thani of Qatar has made a $5 billion offer to buy the club outright, while Ratcliffe is only looking for a controlling interest.

Despite Ratcliffe’s initial plan to buy the Glazer family’s 69% ownership, subsequent reports indicate he may lower that amount to keep Joel and Avram Glazer as co-chairmen of the club. Ratcliffe’s shareholding won’t fall below 51%, though.

Ratcliffe and Sheikh Jassim are the two primary parties vying to seize control of the club, however three American investment groups, Elliott Management, the Carlyle Group, and Ares Management, are also offering to buy a minority position in the business.

In addition to a sum that would be paid directly to the sellers, Sheikh Jassim’s offer includes a proposal to spend a sizeable sum of additional money and infrastructure in the club.

 

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