{"id":289732,"date":"2023-09-13T13:04:32","date_gmt":"2023-09-13T13:04:32","guid":{"rendered":"https:\/\/sportslifetale.com\/?p=289732"},"modified":"2023-09-13T13:04:32","modified_gmt":"2023-09-13T13:04:32","slug":"sir-jim-ratcliffes-man-utd-takeover-hopes-suffer-blow-as-ineos-take-double-hit","status":"publish","type":"post","link":"https:\/\/sportslifetale.com\/soccer\/sir-jim-ratcliffes-man-utd-takeover-hopes-suffer-blow-as-ineos-take-double-hit\/","title":{"rendered":"Sir Jim Ratcliffe’s Man Utd takeover hopes suffer blow as INEOS take double hit"},"content":{"rendered":"

Cristiano Ronaldo 'frustrated' Man Utd squad as Mike Phelan lifts lid on 'opinionated' star<\/h3>\n

Sir Jim Ratcliffe has suffered a major blow in his bid to complete a Manchester United takeover after learning INEOS’ latest financial results, according to reports. The Glazer family are yet to confirm a preferred outcome to the 10-month process, but Ratcliffe has been struck by unwelcome news in his battle against Sheikh Jassim bin Hamad Al Thani.<\/p>\n

According to the Mirror, Ratcliffe’s two chemical giants recorded net losses in the second quarter of 2023.<\/p>\n

It’s the first time INEOS Group Holdings SA and INEOS Quattro Holdings Ltd have suffered net losses since the second quarter of 2020.<\/p>\n

An INEOS spokesperson said: “The chemical sector, closely tied to global GDP, experienced robust growth post-COVID but now mirrors economic trends and interest rates, impacting demand.<\/p>\n

“Despite this, the fundamentals of INEOS’ business remain strong, and the underlying strength of the sector – which enables our everyday lives through the production of materials critical to healthcare, technology, construction and more – endures.”<\/p>\n

The report adds that INEOS figures are relaxed over the situation, with each firm said to have over \u00a31.7billion in cash reserves.<\/p>\n

READ MORE <\/strong> Man Utd have five shirt numbers free if free agent winger joins today[COMMENT] <\/strong><\/p>\n

<\/p>\n

But it will undoubtedly be a concern against the financial might of Sheikh Jassim’s Qatari bid, should the Glazers opt to relinquish control at Old Trafford.<\/p>\n

Ratcliffe hopes to secure a majority stake in United, which could see Joel and Avram Glazer retain some control.<\/p>\n

Sheikh Jassim is eyeing a 100 per cent sale and has pledged to clear United’s debt and significantly invest in Old Trafford, the club’s training facilities, playing staff and wider infrastructure.<\/p>\n

Earlier this month, Ratcliffe insisted that failure wasn’t an option in an interview on INEOS’ YouTube channel.<\/p>\n

He said: “The Manchester United bid would have been unthinkable two or three years ago if we hadn’t had some of the experiences – some quite difficult experiences with Lausanne and Nice.<\/p>\n

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<\/p>\n

“You can’t really contemplate acquiring a brand like Manchester United and failing because the failure is just far too public and excruciating in a deal like that.”<\/p>\n

But the longer the Glazers delay a decision, the more fears over the prospect of the American family staying put grow.<\/p>\n

Joel, Avram and their four siblings have been overwhelmingly unpopular figures among fans since the family’s controversial 2005 takeover.<\/p>\n

And Ratcliffe’s double financial blow could increase the probability of minority investment at Old Trafford unless the Glazers’ hefty \u00a36bn valuation is met.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Cristiano Ronaldo 'frustrated' Man Utd squad as Mike Phelan lifts lid on 'opinionated' star Sir Jim Ratcliffe has suffered a major blow in his bid to complete a Manchester United takeover after learning INEOS’ latest financial results, according to reports. The Glazer family are yet to confirm a preferred outcome to the 10-month process, but […]<\/p>\n","protected":false},"author":2,"featured_media":289731,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"yoast_head":"\nSir Jim Ratcliffe's Man Utd takeover hopes suffer blow as INEOS take double hit - Sports Life Tale<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sportslifetale.com\/soccer\/sir-jim-ratcliffes-man-utd-takeover-hopes-suffer-blow-as-ineos-take-double-hit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sir Jim Ratcliffe's Man Utd takeover hopes suffer blow as INEOS take double hit - Sports Life Tale\" \/>\n<meta property=\"og:description\" content=\"Cristiano Ronaldo 'frustrated' Man Utd squad as Mike Phelan lifts lid on 'opinionated' star Sir Jim Ratcliffe has suffered a major blow in his bid to complete a Manchester United takeover after learning INEOS’ latest financial results, according to reports. 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