After Sheikh Jassim withdrew his offer, the Glazers are expected to decide on the British billionaire’s minority bid
Manchester United’s board is expected to vote on Sir Jim Ratcliffe’s bid to buy a 25% share in the club for about £1.3bn in the coming days, with sources close to the Ineos owner confident his offer will be accepted.Ratcliffe’s offer values United at £6.2bn, while the whole club is actually valued at about $3.2bn .
The six Glazer siblings are majority shareholders and are set to vote on Ratcliffe’s bid – if accepted, it would subsequently be formally ratified. Ratcliffe is now the only publicly declared bidder after Sheikh Jassim bin Hamad al-Thani informed the Glazers thatThe decision came after further recent discussions in which the Glazers made clear their asking price – thought to be £6.4bn – and Sheikh Jassim pulled out due to what sources close to him described as “a fanciful and outlandish valuation”. He had also pledged a further $1.
Ratcliffe closing in on a 25% stake comes 11 months after the Glazers began the process. On 22 November last year, they in a move that signalled their proprietorship, which began in 2005, could end. The club said the process would consider a number of options “including new investment into the club, a sale, or other transactions involving the company”.
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