INEOS CEO Jim Ratcliffe’s acquisition of a stake in Manchester United is on the verge of being officially approved during the upcoming board meeting, marking a significant step forward after productive developments over the past fortnight.
The evaluation placed by Ratcliffe for the Manchester club stands at an impressive $7.5 billion, showcasing the scale of his investment ambitions. His long-term vision involves gaining complete control, gradually dislodging the Glazer family from the club’s helm.
However, this development might not sit well with some United fans who have been vocal about their desire to see the Glazers relinquish control.
Their discontent stems from the belief that the American family’s ownership has not always aligned with the best interests of the club. Despite this, Ratcliffe’s approach indicates a hands-on involvement in the club’s operations and future trajectory.
One key move on his agenda is to appoint the highly regarded Paul Mitchell as the sporting director, underlining his intent to steer the club in a direction that optimizes performance and success.
Interestingly, Ratcliffe’s ascension to a potential majority stakeholder has not been devoid of competition. Qatar had also expressed a strong interest in acquiring Manchester United and went as far as presenting a compelling cash bid. Sheikh Jassim of Qatar proposed a bid that would have erased the club’s existing debt, offering to acquire 100% ownership.
This bid was extraordinarily substantial, nearly double the market valuation of the club, estimated at $3.5 billion. Yet, to the astonishment of many, the Glazers rejected this generous offer from Qatar, thus prompting Qatar to withdraw from the bidding process.
This turn of events underscores the Glazers’ reluctance to part with their ownership of Manchester United at this juncture. Ratcliffe’s proactive approach, involving substantial financial commitment and strategic planning, appears to be the most viable route to instigate significant changes within the club.
The Manchester United faithful eagerly anticipate the day when Ratcliffe’s vision comes to fruition, offering hope for a brighter and more successful future under new ownership.
The prospect of Ratcliffe eventually taking complete control over the club is a source of excitement and anticipation among United fans, who yearn for a positive change in the club’s trajectory.
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Happy for the takeover