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Sir Jim Ratcliffe could walk away from the negotiation table over his £1.4billion deal to buy a 25 per cent stake in Manchester United if the Glazer family refuse to meet one of his reported demands. The INEOS CEO has outlasted Sheikh Jassim bin Hamad Al Thani in the takeover race, but his initial minority investment hasn’t yet received the green light.
Ratcliffe outmanoeuvred Sheikh Jassim in talks for a stake in United after it became clear that Joel and Avram Glazer weren’t ready to walk away from Old Trafford.
The 71-year-old businessman’s offer phased from the Glazers’ 69 per cent stake to 51 per cent, allowing Joel and Avram to retain a minority stake, to a 25 per cent variation of A and B shares.
That looks to have been successful, with INEOS expected to inherit total sporting control and overhaul the club’s football department.
But there are collective concerns from those who preferred a full Qatari takeover over whether Sir Jim will accommodate the Glazers’ extending their 18-year reign or eventually buy them out.
According to the Independent, Sir Jim is insistent on a path to majority ownership at Old Trafford, the subject of ongoing talks with the Glazers.
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United’s 12 board members reportedly haven’t yet met to ratify Sir Jim’s proposal because of his demand for a guaranteed route to a full takeover.
The report adds that his pursuit of that guarantee could see the current negotiations rumble on for weeks amid Joel and Avram’s reluctance.
And it’s claimed that Sir Jim receiving assurances over his future buy-out could be described as a deal breaker.
But Sir Jim’s discussions with the Glazers currently aren’t said to have placed his deal in jeopardy due to the American owners’ reliance on investment, the reason they launched the strategic review last November.
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Talks between the two parties are ‘going as expected’, and the Failsworth-born United fan’s 25 per cent purchase is widely viewed as a formality from here.
Sir Jim could have secured the deal, completed a review of United’s current sporting department and recruited his own figures in time for the 2024 summer transfer window.
INEOS may officially be United shareholders in January, but the Red Devils reportedly aren’t planning much activity this winter.
Departures would change that, though, amid uncertainty over the futures of Donny van de Beek and Jadon Sancho, among others.
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