British billionaire Sir Jim Ratcliffe is close to acquiring a significant stake in Manchester United, a source told ESPN.
A source with knowledge of the process has told ESPN that Ratcliffe was"more savvy in his deal execution" than rival bidder Sheikh Jassim, a Qatari billionaire whoSheikh Jassim's exit from the race to buy the 20-time English champions has paved the way for Ratcliffe, the founder of chemicals company INEOS, to seal a deal to acquire a 25% shareholding from the Glazers, who own 69% of the club. The remaining shares are owned by smaller investors on the New York Stock Exchange.
Ratcliffe, according to a source, is willing to pay between £1.3 billion and £1.5bn for the stake despite United's current market value sitting at around £2.6bn. It is likely to antagonise a large section of United supporters who were eager for the family, who also own the Ratcliffe's deal would also satisfy the desire of the four other Glazer siblings -- Bryan, Kevin, Edward and Darcie -- to reduce their stake in the club.
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