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Sir Jim Ratcliffe\u2019s purchase of a 25 per cent stake in Manchester United is very likely to be announced early next week.<\/p>\n
Confirmation of the investment by the 71-year-old\u2019s Ineos Group would conclude a saga which has lasted more than a year, and sources have indicated that an announcement is strongly expected to be just days away.<\/p>\n
The Glazer family who own United first announced on November 22, 2022 their intention to undertake a strategic review of their options, which included the possibility of them selling the club.<\/p>\n
Many United fans, who have resented the Americans\u2019 involvement in the club since their leveraged takeover in 2005, welcomed that news and until October of this year a buyout looked possible, with Ratcliffe and Qatari businessman Sheikh Jassim publicly in the running.<\/p>\n
Sheikh Jassim withdrew his bid for full control of the club on October 14 and Ratcliffe\u2019s focus has now shifted to taking a significant minority stake.<\/p>\n
The deal is set to involve Ratcliffe purchasing a sufficient number of B shares from the Glazer family to secure 25 per cent of company voting rights.<\/p>\n
Each B share carries 10 votes, whereas A shares carry one vote per share. The Glazers have hitherto owned all the B shares in United, affording them 95 per cent of the overall voting rights.<\/p>\n
Ratcliffe\u2019s Ineos Group is expected to pay in the region of \u00a31.25billion for the share purchase, while also acquiring significant control over footballing operations.<\/p>\n
It has also been reported that Ratcliffe is prepared to invest a further \u00a3245million to improve club infrastructure.<\/p>\n
The deal had been expected to be done during the November international break, but that came and went and the one-year milestone was passed almost a fortnight ago.<\/p>\n
The club announced on November 15 that Richard Arnold was stepping down as chief executive.<\/p>\n
Sources close to Ineos indicated they were not involved in Arnold\u2019s departure, but it seems likely that further change will be afoot once the deal is signed.<\/p>\n