Business journalist David Hellier, speaking to @Unitedviewtv, has now claimed Sir Jim Ratcliffe’s bid to buy Manchester United is ‘dead’.
“For my part, I picked up on another aspect of this which was to do with the Ratcliffe side,” he said.
“I was picking up from advisors to Man United that his bid, as things stand, is dead in the water.
“I mean absolutely dead in the water.
“And the reason for that is he’s proposing a structure that would buy out the Glazers, the majority shareholders, and not offer anything to the minority holders.
“The minority holders are slightly aggressive funds, mainly in the US there are some in the UK.
“I was told they’ve made it clear to the Manchester United board, via a letter that was sent, that said ‘if you recommend this offer which prejudices us, gives us no offer at all, we end up with discounted shares while the Glazers get everything. We will sue’.
“I was then being told by the Man United side that they have three independent directors.
“And those directors would never, ever sanction or recommend that bid under these circumstances with this threat.”
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