Another twist! Sir Jim Ratcliffe to pay £1.3 billion for 25% stake in Man Utd after Sheikh Jassim pulls out of takeover race

Posted Sunday, October 15, 2023 by Goal.com

Sir Jim Ratcliffe is set to take a 25 per cent stake in Manchester United after a Qatari consortium headed by Sheikh Jassim withdrew from the race.

Qataris pull out of takeover race
Ratcliffe now ready to seal deal
Will take 25% stake in club

WHAT HAPPENED: United are set to ratify a bid of £1.3bn for a 25% stake in the club from Ratcliffe and his INEOS firm at a board meeting this week, according to The Times. The British billionaire is set to complete a deal after seeing his main rival, Sheikh Jassim, withdraw from the process after seeing his latest bid rejected by the Glazer family. The move is thought to be the "first stage of a full takeover" of the club.

THE BIGGER PICTURE: The latest developments mean that the long-running takeover saga could be set to end almost a year after the club was first put on the market. Ratcliffe has emerged as the frontrunner again after making a revised offer which will allow the Glazers to remain in charge for now. The new offer values the club at between £5bn and £5.5bn which would be a new record for a sports club if a full takeover were to follow.

WHAT NEXT? Ratcliffe's bid is set to be ratified by the club next week which should bring the takeover saga finally to an end. The Red Devils are due to return to Premier League action on October 21 against Sheffield United.