Jim Ratcliffe Agree To Pay £1.3 Billion For 25% Of Man United

Sir Jim Ratcliffe has agreed to purchase 25 per cent of Manchester United for £1.3 billion after Sheikh Jassim bin Hamad al Thani of Qatar decided not to continue with the bidding process.

The Glazers have owned Manchester United for 18 years, having purchased the team for less than £800 million in 2005. Since the club’s former manager, Sir Alex Ferguson, retired in 2013, there have been a series of protests over the team’s performance.

There was a perception that Sheikh Jassim’s offer, which valued United at more than £5 billion, was the best offer for United. However, the Glazers kept rejecting his offers until the Qatari billionaire decided to give up on the process.

Shiekh Jassim withdrew from the process, presumably because the Glazers, who have owned United since 2005, did not find his valuation to be adequate.

The alternative plan calls for Sir Jim, a lifelong supporter and billionaire in the petrochemicals industry, to buy about 25 per cent of the club. The agreement will likely be approved at this week’s United board meeting.

Sheikh Jassim is understood to have raised his offer in June, but it was not satisfactory for the Glazers despite being far more than the club’s $3.3bn valuation on the New York Stock Exchange.

The difference between the parties is over the valuation – which still leaves open the possibility of Sheikh Jassim being enticed back into the protracted process – as protests against the Glazers continue.

Anger against the ownership has simmered and grown as United have started the season by losing four of their opening eight Premier League games to sit 10th in the table.

Erik ten Hag’s side have also lost both Champions League group games so far in the 2023-24 campaign.

Sheikh Jassim’s offer would have made United the most expensive sports team in history by at least £200m, eclipsing the deal to buy NFL side Washington.

Commanders, but still fell short of the Glazers’ valuation of the club at around £6bn as it was reported earlier this year.

The Manchester United Supporters’ Trust (MUST) has urged the Glazer family to “make their position clear”.

After Sheikh Jassim withdrew his bid, a statement from MUST read, “We hope this news accelerates that process rather than delays it. Based on the last 11 months, no one can be quite sure.”