Old Trafford latest

Ratcliffe set to lose out to Qatari Man Utd bid

Old Trafford
For sale: Old Trafford

Sir Jim Ratcliffe looks to have lost out to Qatari banker Sheikh Jassim in the battle to buy Manchester United.

An offer in the region of £6bn is reported to have been accepted by the Florida-based Glazer family, who put the club up for sale nine months ago.

A boyhood United fan, Ratcliffe owns petrochemical giant Ineos, part-owner of the Grangemouth chemicals plant, and was the first formal bidder when the process began.

The 70-year-old’s offer is thought to be based around a partial buy-out, with the Glazers retaining a stake, while the Qatari bid is understood to involve a complete acquisition which would erase all debts, allow redevelopment of Old Trafford and significant investment in the first-team squad.

An official announcement confirming the deal could come in a matter of weeks, according to newspaper reports in England.

The news saw the club’s shares jump by nearly 6 per cent in early trading on the New York Stock Exchange.

The Glazers bought the English Premier League club in 2005 for £790m.

Last year Ratcliffe lost out in his £4.25bn attempt to buy Chelsea, the Clearlake Capital consortium led by US billionaire Todd Boelhy winning the race to lead the Stamford Bridge outfit into a new era following Roman Abramovich’s reign.

One Comment to Ratcliffe set to lose out to Qatari Man Utd bid

  1. Every time the stock share goes down Reports of a buy out appears then shares go up and the glazers tell everyone that they have no intention to sell the club. Wake up everyone

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.