Man United set for new owner and highly-rated sporting director could follow
Man United look to have a new owner as Sir Jim Ratcliffe is set to buy 25% of the Premier League club for around $1.8bn.
The INEOS CEO’s stake is likely to be ratified in a board meeting next week after making a significant breakthrough over the last two weeks. According to Ben Jacobs, Ratcliffe values the Manchester club at around $7.5bn and the plan is to take full control from the Glazer family in the future.
This will disappoint many United fans who simply want the American family out of their club, however, Ratcliffe plans to be extremely hands-on and will look to appoint the highly-rated Paul Mitchell as the club’s sporting director.
Jacobs states that Qatar were aware of this and it in part informed their withdrawal from the bidding process earlier on Saturday.
According to Fabrizio Romano, Qatar’s Sheikh Jassim presented a fully cash bid for Man United, clearing all old debt, for 100% of the Premier League club. His final bid was understood to be almost double the $3.5B market valuation placed on Man United but it was rejected by the Glazers, therefore, Qatar withdrew from the race.
It is now clear that the Glazers do not want to sell Man United at present and Ratcliffe’s way was the only path to getting involved in the Manchester club. The Britain will now start his work towards eventually owning all of the club and that is a day United fans will heavily celebrate.
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