More details have emerged from Sir Jim Ratcliffe’s £5billion offer to the Glazers to purchase Manchester United, as the INEOS chief looks to beat Sheikh Jassim of Qatar and take over at Old Trafford. The two public bidders made revised offers to the current owners after the third round of bidding which took place last week, as Ratcliffe was reported to have given the Glazers the chance to stay at the club.
Reports had claimed that Ratcliffe proposed a flexible bid that would see him take majority control of United, while the Glazer family members that wish to stay could remain at the club as shareholders. Sky News have since claimed that there is a hidden clause within Ratcliffe’s offer which could see him take full control after three years.
The report states that the bid has clauses which could see the Glazers completely exit Old Trafford in 2026, which would come as a huge relief to United supporters who have recently held protests against the current owners.
Ratcliffe’s offer for majority ownership would reportedly include put-and-call options, which if triggered could either force the Glazers to sell their remaining shares to the Brit or force him to acquire them in the future.
The first specific date to exercise the option would occur three years after the deal was completed in 2026, with subsequent periods built into the transaction if the first one was not used by either side.
The Qatari-backed bid is for full ownership of the club and does not involve any opportunities for the Glazers to remain at Old Trafford alongside Jassim, though experts have claimed that due to the various stakes of each bid, Ratcliffe’s offer is higher than Jassim’s.
The next stage is for the Glazers alongside the Raine Group – who are handling the takeover process – to pick a preferred bidder between Ratcliffe and Jassim, or decide that they wish to receive minority investment instead.
Initial reports had suggested that a decision would be made swiftly after a surprise third round of bidding, but a call is now expected to come later this month.
United boss Erik ten Hag will be wary of the takeover being delayed further as he will hope to press on with transfer plans for next season – and currently will be in the dark over the club’s budget for potential incomings.
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