Sir Jim Ratcliffe, a Billionaire from Great Britain is set to acquire a sizable interest in Manchester United that would give him “Sporting Influence” at the Old Trafford club.
Ratcliffe was clever in his deal than his Qatari based rival Sheikh Jassim, who withdrew in interest in acquiring Manchester United on Saturday after failing to negotiate a full takeover from the Glazer family.
Sir Jim Ratcliffe, a British billionaire, is the owner of the chemical company, INEOS, he also owns a French Ligue 1 club, Nice and Swiss team, Lausanne Sport, grew up as a Manchester United supporter.
He has now reached an agreement with the Glazer family to acquire 25% stake in the Old Trafford club and the Glazers controls 69%.
The Glazers assessment of the club caused Sheikh Jassim and his Qatari consortium, who were interested in buying the club for around £5 billion, to end negotiation.
During the bidding process, Ratcliffe and his INEOS team changed their offer, originally aiming to purchase the Glazers’ 69% stake, they are now aiming for a minority stake of 25% amid concerns regarding the Glazers siblings’ desire to sell.
