Sir Jim Ratcliffe will acquire 25% in Manchester United after the Qatari consortium withdrew from the race.
According to The Times, United will ratify a £1.3 billion bid for a 25% stake in the club from Ratcliffe and his firm INEOS at a board meeting this week. The British billionaire is ready to make a deal after seeing his main rival, Sheikh Jassim, withdraw from the process after his latest offer from the Glazer family was rejected. The move is believed to be the “first phase of a full takeover” of the club.
The latest developments mean the lengthy sales process could end almost a year after the club first came to market. Ratcliffe has once again become the favorite after making a bid that could see the Glazers retain the lead for the time being. The new offer values the club at between £5 billion and £5.5 billion, which would be a new record for a sports club if a full takeover were to take place.
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Ratcliffe’s bid will be confirmed by Manchester United next week, which should finally put an end to the dispute to take over the club. The Red Devils return to the Premier League against Sheffield United on October 21.
Source: Goal