Sir Jim Ratcliffe’s bid for Manchester United could see the Glazers retain a stake in the club in a move that would infuriate fans desperate for a departure… with one option involving Joel and Avram together Keep 20 percent
- Sir Jim Ratcliffe proposes a move to keep the Glazers at the club
- One of the options would be for Ratcliffe to take a majority stake of more than 50%
- Avram and Joel Glazer would then keep a combined 20% under the proposal
Sir Jim Ratcliffe offers a deal for Manchester United allowing Joel and Avram Glazer to remain stakeholders in the club. Mail sports understands.
In what would be a highly controversial act likely to infuriate large swathes of United’s backing, one of the options on the table for the American owners would be for Ratcliffe to take a controlling stake of more than 50 percent, with the two Glazers together retain 20 percent. per cent.
If the proposal is approved, it would mean continued ties to the family, whose leveraged buyout in 2005 plunged United into hundreds of millions of dollars in debt.
Those close to the trial, which is being led by US investment bank Raine Group, say the prospect could prove to be the preferred option for the two Glazer brothers – the members of the family most strongly involved in running of the club – get the chance to stay.
It is thought that the last portion currently held by various investment groups will also remain in place.
Sir Jim Ratcliffe’s bid to take over Manchester United includes a pledge to the Glazer family
It is said that the Glazers would retain a stake in the club and a seat on the Red Devils board (Photo: Avram Glazer, left, Joel Glazer, right)
Such a scenario would likely include a promise of further investment from Ratcliffe’s Ineos to redevelop Old Trafford or build a new stadium, improve the training ground and provide substantial transfer funds to manager Erik ten Hag.
When Raine oversaw the sale of Chelsea last summer, the successful bidders paid £2.5bn for the club and pledged a further £1.75bn in investment.
The deadline for closing bids is this Friday.
Qatari Sheikh Jassim bin Hamad Al Thani will present his closing offer, namely full control of United. He has no interest in taking a partial interest.
He is seen as having the deepest pockets and remains an attractive proposition. A full takeover is also seen as a ‘cleaner’ transaction.
It comes despite anger towards owners from Manchester United fans in recent years
Ratcliffe hopes to win the bid to take over Manchester United pending interest from Qatar
The deadline for closing bids is Friday and Qatari Sheikh Jassim bin Hamad Al Thani will present his offer for full control of the Red Devils.
It is expected that a preferred bidder will be selected within days, with the aim of having investments or new owners for the next transfer window, which starts in June.
Ahead of this development, a United supporters group revealed plans for a protest against the Glazers amid concerns about “the protracted nature of takeover talks” after the bid went into a fourth round and after US investment firms expressed interest in partial investments.
At Sunday’s game with Aston Villa, they plan to march from Manchester city center to Old Trafford under the slogan ‘full sale only’.
The group will boycott the first 18 minutes, which they say is “one for every year the Glazers have driven our club to the ground” before entering the stadium.
Last year, football finance experts estimated that the Glazers had taken more than £1.1bn out of United through dividends and the repayment of the debt they had left United with following their own takeover.
A United fan group plans to protest with Aston Villa before match, demanding ‘full sale only’