In November of last year, the Glazer family declared their intention to explore ‘strategic alternatives’ for Manchester United, the club they have controversially owned for the past 18 years.
These alternatives ranged from a complete takeover to minority investment deals. Potential buyers, including Jim Ratcliffe and Sheikh Jassim Bin Hamad Al Thani, vied for ownership of the iconic Old Trafford club.
Despite hopes from Ratcliffe and Sheikh Jassim, the Glazers, valuing United at a staggering £6-£10 billion, found their bids falling short.
Sheikh Jassim’s best offer of £5 billion was insufficient, leading to his withdrawal from the takeover race last month. Ratcliffe, on the other hand, offered to purchase a 25% stake, actually valuing the club higher overall, while allowing the Glazers to retain majority ownership.
Ratcliffe has shown a willingness to adapt his strategy, potentially starting with a smaller stake but with a long-term goal of becoming the majority owner. Meanwhile, David M. Cooperman’s recent acquisition of shares, valued at $16.8 million (£13.5 million), doesn’t significantly alter the broader landscape at Old Trafford. Cooperman, an 80-year-old investor with a net worth of $2.6 billion (£2.1 billion), according to the Bloomberg Billionaires Index, represents only a fraction of the substantial sums discussed by Ratcliffe and the Glazers.
It’s not unprecedented for the current owners to divest portions of the club in this manner. Co-chairman Avram Glazer sold over £70 million worth of his personal ‘Class A Ordinary Shares’ in 2021 when the club’s overall market value was just below £2.4 billion.
Ratcliffe’s involvement is poised to extend beyond a financial investment. The British businessman, originally from Oldham, is set to play an active role, particularly in the realm of sporting operations.
He will form part of a three-person panel at the helm of the club alongside current co-chairman Joel Glazer and longstanding associate Sir Dave Brailsford, who, renowned for his success in cycling, has been Ratcliffe’s director of sport at INEOS since 2021.
Directly beneath this leadership trio, the chief executive, Richard Arnold, will oversee day-to-day business operations, while a new sporting director, anticipated to be the highly regarded talent scout Paul Mitchell, will be responsible for player recruitment and development.
The intricacies of these moves highlight the evolving landscape and potential shifts in the ownership and management structure of Manchester United.
1 Comment
It’s taking longer than expected something must be done to redeem the club from the present situations