The sale of Manchester United has been finalized! This is likely to give rise to some extremely heated debate!
It is anticipated that Sir Jim Ratcliffe will spend close to $1.8 billion in order to purchase 25 percent of the Premier League team Man United. This will result in a new owner for the club.
Following a significant progress made over the course of the previous two weeks, the INEOS CEO’s share is likely to be confirmed during a board meeting that takes place the following week. According to Ben Jacobs, Ratcliffe assesses the value of the Manchester club at approximately $7.5 billion, and the long-term ambition is to supplant the degree of ownership currently held by the Glazer family.
The fact that Ratcliffe intends to be very hands-on and will attempt to install the highly regarded Paul Mitchell as the club’s sporting director is something that will irritate many United supporters who simply want the American family out of their team.
Jacobs claims that Qatar was aware of this, and that knowledge played a part in their decision to pull out of the bidding process earlier on Saturday.
According to Fabrizio Romano, Sheikh Jassim of Qatar made an offer to purchase Manchester United for 100 percent cash, which would have completely wiped off the club’s existing debt. Qatar withdrew from the bidding as a result of the Glazers’ decision to turn down his final offer, which was rumored to be nearly twice as much as the $3.5 billion value that the market places on Manchester United.
Because it is now abundantly clear that the Glazers do not now intend to sell Man United, Ratcliffe’s strategy was the only one that could have resulted in him being involved with the Manchester club. The British will now continue his efforts toward eventually owning the entire club, and followers of United will celebrate this momentous occasion with jubilation.
