According to ESPN, British billionaire Sir Jim Ratcliffe is on the verge of securing a 25% stake in Manchester United, potentially giving his INEOS team a significant presence at Old Trafford.
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Sources suggest that Ratcliffe’s approach to this deal was more strategically executed compared to Qatari billionaire Sheikh Jassim, who recently pulled out of negotiations to purchase the club outright from the Glazer family, the current American owners of Manchester United.
With Sheikh Jassim no longer in contention, Ratcliffe has a clear path to acquire a 25% share from the Glazers, who currently possess 69% of the club. The remaining portions of ownership belong to smaller investors trading on the New York Stock Exchange.
Ratcliffe is reportedly prepared to invest between £1.3 billion and £1.5 billion in acquiring the stake, despite Manchester United’s present market valuation standing at roughly £2.6 billion. This move may see INEOS gaining a significant presence at the iconic football club.
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Credit: ESPN
This report is developing, more details will be shared on the SkiwordNews Telegram Channel as soon as possible.
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