Sir Jim Ratcliffe steals a march in the race to buy Man United after valuing the club HIGHER than Sheikh Jassim’s £5bn offer – but Brit’s bid will see the Glazer family REMAIN as minor shareholders
- Sheikh Jassim placed an offer to buy Manchester United worth more than £5bn
- Sir Jim Ratcliffe values United higher but would only takeover a share of the club
- He appears to have stolen a march on his Qatari rival following Friday’s deadline
Sir Jim Ratcliffe appears to have stolen a march on his Qatari rival in the battle for Manchester United – after valuing the club higher.
Mail Sport understands that Ratcliffe’s firm Ineos have made an offer that would see United priced at more than £5bn.
Ratcliffe wants to buy either 69 per cent of the Premier League giants or slightly more than 50% should Glazer brothers Joel and Avram wish to stay in what would be a controversial move, reported by the Daily Mail last week.
On Friday, those close to Sheikh Jassim bin Hamad al-Thani said his offer had broken the £5bn barrier with a pledge of substantial additional funding. However, those with knowledge of the process, which is being run by US merchant bank Raine Group, say that is not the case and that the Ineos offer actually values the club higher.
Such contradiction is not new in a long-running saga that has been developing since United were put up for sale in November. Following an earlier deadline, both the Qatari and Ratcliffe groups claimed to have submitted offers only for it to emerge that they had actually asked for an extension.
British billionaire Sir Jim Ratcliffe (pictured) appears to have stolen a march on Sheikh Jassim in the battle to buy Manchester United – having valued the club higher than his Qatari rival
Sheikh Jassim bin Hamad Al Thani submitted a £5billion offer for Manchester United on Friday
If Ratcliffe’s offer is accepted, the Glazer family (above) would keep a minority stake in the club
Ratcliffe’s bid, if accepted, would mark a controversial move, as several Manchester United supporters have protested against the Glazers in recent seasons and want them out of the club
Final bids were submitted ahead of Friday’s 10pm deadline. It is now over to the Glazers, with the selection of a preferred bidder and subsequent exclusivity period thought to be around a week to 10 days away.
While technically Sheikh Jassim has offered more money because he wants to buy 100% of the club, this development may harm his chances.
It is also understood that Ineos’s valuation has been higher than that of Sheikh Jassim throughout the process.
The Glazers also have a number of other offers for investment in exchange for a partial stake from a number of US-based groups. Such a cash injection of between £1bn and £2bn would allow them to redevelop Old Trafford or build a new stadium and transform the club’s training ground.
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