- Man United takeover saga continues to rumble on with Glazers playing hardball
- Bidder Sir Jim Ratcliffe said he “could not contemplate failure” if he were to take over.
- The club’s share price fell after it was announced that the Glazers could sell half.
Manchester United bidder Sir Jim Ratcliffe insists he ‘cannot contemplate failure’ if selected to buy the club – as the Old Trafford takeover saga continues.
The British billionaire, who heads the INEOS group, is one of the two contenders to succeed the Red Devils against the Glazer brothers Avram and Joel – in charge since 2005 – alongside the Qatari Sheikh Jassim, the two men having submitted offers in the region of £5 billion.
But the takeover hit a snag in recent weeks after Mail Sport reported the Glazers were to take the club off the market, causing United’s shares to fall by 21 per cent at one point as the New York Stock Exchange reacted to the report.
However, reports later emerged that the two bidders had not been informed of the sale’s cancellation, with those close to the process saying nothing had changed.
Both offers fall well short of the Glazers’ valuation, with negotiations reportedly ongoing and Ratcliffe – Britain’s richest man – speaking out about his potential plans for the club if he succeeds.
Sir Jim Ratcliffe has insisted he could not face failure if chosen to buy Man United.
Manchester United’s takeover saga continues – with the club’s share price suffering a record £600million drop after a report that the Glazers (pictured) could stop the sale.
Ratcliffe and his compatriot Sheikh Jassim were not informed of the end of the sale.
The club’s supporters have been involved in protests against the Glazers over their management of the club in recent years, with the announcement they could pull out of the sale only escalating tensions – as the Red Devils sue their battle to return the club to its former glory. .
Talk to INEOS YouTube ChannelRatcliffe said he couldn’t imagine failing with a club like United, saying it would be “painful and excruciating”.
“The Manchester United bid would have been unthinkable two or three years ago if we had not had certain experiences, including some quite difficult ones with Lausanne and Nice,” he said.
“You can’t really look at acquiring a brand like Manchester United and failing because the failure is just far too public and atrocious, failing in a deal like that.”
The club’s owners announced they would explore investment options last November, but the slow pace of negotiations has left fans frustrated.
The American owners announced last November that they would explore investment options, including the prospect of a full sale.
But the long delays in talks and the slow pace of negotiations have led to huge frustration among impatient fans and pundits linked to the club.
One source believes the logic for taking United off the market now is that the family will try to sell again in 2025, when it hopes to attract more bidders.
Legendary defender Gary Neville has accused the Glazers of using United as a “toy”. However, he always claimed they would eventually sell out as he saved the pair following United’s 3-1 defeat to Arsenal this month.
United supporters recently staged a sit-in to try to convince the Glazers to sell
“It’s just a game for them, they think it’s a toy!” Neville was furious with the latest edition of his Sky Podcast. “Of course they will sell. They desperately need money.
“They can’t even compete on FFP (Financial Fair Play) anymore. Man Utd speak like a mid-tier club when it comes to the transfer market. Man Utd are worth £500 million, one of the highest revenue-generating clubs in the world.
“Chelsea, Arsenal can sign big players, Man Utd are scrambling on FFP. I know they suffered losses due to Covid and that could be used as an excuse.
“Today was a fantastic game, but that won’t change the fact that they have owners of one of the biggest clubs in the world having fun with the football club and I’m not going to stop to talk about it because it’s a huge problem.
