Sir Jim Ratcliffe is optimistic about finalizing an agreement to acquire a small ownership share in Manchester United within the next two weeks.
The wealthy British individual plans to invest approximately £1.25 billion in order to obtain a 25% ownership stake in the team and take charge of the football operations. It is expected that the deal will be completed before United’s match against Everton at Goodison Park on November 26th. While sources have stated that a deal may not be reached as soon as next week, it is considered a reasonable timeline for the following week.
Ratcliffe, who had once made an offer to acquire Chelsea, expressed interest in buying a controlling stake in United from the Glazers. However, he has only been able to secure a 25% ownership of the club. Following extended discussions, those involved in the negotiations are hopeful that they are close to finalizing the deal.
Ratcliffe is expected to enlist the help of Ineos’s director of sport, Sir Dave Brailsford, to offer guidance on potential changes to the structure of United’s leadership. His arrival may lead to speculation about the futures of manager Erik ten Hag and football director John Murtough.
Sheikh Jassim bin Hamad al-Thani from Qatar has decided to back out of the acquisition process due to lack of success in his £5bn bid for United. This cleared the path for Ratcliffe’s proposal to buy a smaller share. Ratcliffe currently owns two football teams, Nice and Lausanne, as well as the Ineos Grenadiers cycling team and a sailing team.
United currently hold the eighth spot in the Premier League standings and are facing a difficult task to secure a spot in the Champions League knockout rounds. This is due to their recent defeat against Copenhagen, which has placed them at the bottom of Group A. On Saturday, they will be hosting Luton.