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The Manchester United takeover battle is still alive as Sir Jim Ratcliffe reportedly puts plans into place to restructure his bid and convince the Glazers to relinquish control at Old Trafford. Sheikh Jassim bin Hamad Al Thani isn’t dormant, either, and his previous actions may hint at his stance on an improved offer.
According to Bloomberg, Ratcliffe’s INEOS team are reshaping their approach in an attempt to find a breakthrough in negotiations.
The Glazers reportedly value the club at £6billion, and brothers Joel and Avram aren’t budging on that valuation.
Meanwhile, the other four siblings with control are more willing to cash in, which has left a full or majority sale firmly on the table.
Ratcliffe wants to purchase 69 per cent of United, which could facilitate Joel and Avram Glazer retaining a minority stake.
But the report claims it has led to a stumbling block regarding the club’s current minority investors, who are concerned about how such a takeover would benefit them.
Lindsell Train, Ariel Investments LLC and Eminence Capital are among those who have raised qualms over a potentially negative impact a sale to Ratcliffe could have on them.
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The Glazers are allegedly also considering Sheikh Jassim’s bid – which would involve a 100 per cent sale – and minority investment options through US hedge funds that would help them maintain full control.
Sheikh Jassim presented the American family with a take-it-or-leave-it bid worth just over £5bn in May, which was thought to compete with Ratcliffe’s more enticing offer.
But that bid has seemingly been unsuccessful, given the process continues four months later, raising questions about whether Sheikh Jassim will walk away.
That prospect is unlikely for now. The Qatari businessman also published a similar defiant stance earlier in the process before returning to the table with an improved offer.
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It wouldn’t be surprising if the Glazers anticipated a similar move, which could garner success next time if it matches their £6bn asking price.
Sheikh Jassim has vowed to invest heavily in Erik ten Hag’s playing squad, the redevelopment of Old Trafford and Carrington, and the wider infrastructure.
His plan to take full control of the club, rather than Ratcliffe’s majority stake, has made him a popular option among a large section of the fanbase.
In contrast, many fans have spoken out about their discomfort seeing Middle Eastern investment at United and would prefer Ratcliffe if the British billionaire can match the Qatari party.
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