Sir Jim Ratcliffe’s camp have expressed confidence that their bid for Manchester United will be accepted, according to a new report.
Ratcliffe is one of the leading contenders to take over the club from the Glazer family, and has submitted a proposal that would see him assume majority control.
His bid has been submitted in connection with his petrochemicals company, Ineos, which also owns Ligue 1 side Nice and has a background in other sports, such as cycling and Formula 1. The British billionaire is a boyhood United fan, having been born in Failsworth, Greater Manchester.
According toSky News, the proposal contains a ‘put-and-call’ clause, which effectively forces the Glazers to sell their remaining shares in a time period during 2026 if the clause is triggered.
On Tuesday, however, there was another twist in the takeover saga when Qatari businessman Sheikh Jassim’s Nine Two Foundation, the main rival to Ratcliffe, submitted a fresh offer to complete a full purchase of the club.
According toThe Guardian, the bid is worth £5.5 billion – which would be a world-record fee for a sports club if the foundation completes a takeover.
Now, new reports have indicated the feeling within Ratcliffe’s camp.
Ratcliffe’s camp ‘confident’ over Man Utd proposal
According toThe Athletic, unnamed sources close to the deal have reported that there is confidence from Ratcliffe’s team that his bid for Manchester United will be successful.
It is claimed that bankers ‘associated to past acquisitions by Ineos’ were instructed to pull together specific financing for the bid. Staff at Carrington and Old Trafford have also been requested to find out facts and figures that would be used for due diligence.
And Sir Dave Brailsford, director of sport at Ineos, is also said to be optimistic over the proposal.
What happens next remains to be seen, with three rounds of bids already concluded and the latest Qatar bid submitted outside of those timelines.
The Athletic add there has been a ‘dispute’ over the size of the third bid from Sheikh Jassim, and whether it was over or under a fee of £5 billion. His fourth bid is said to include wiping United’s debt, which stands at over £500 million.