Sir Jim Ratcliffe set to complete Manchester United deal during international break
The Manchester United takeover saga appears to be nearing a conclusion as Sir Jim Ratcliffe closes in on a deal to become a minority shareholder at the club.
It is nearly 12 months since Reds owners the Glazer family announced their decision to launch a 'thorough evaluation of strategic alternatives'. That led to several interested parties coming forward over a potential takeover or investment in the club.
Qatari banker Sheikh Jassim bin Hamad Al-Thani submitted a full takeover bid, thought to be worth around £5bn before withdrawing from the race last month. That left Ratcliffe as the sole frontrunner, with his Ineos Group expected to pay in the region of £1.25billion for a 25 per set stake in the Old Trafford club, while also acquiring significant control over footballing operations.
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Now, the Press Association reports that, while there is no firm timetable for the deal to be finalised, an announcement could come as early as next week, with Ineos optimistic it will be done before the Premier League campaign resumes on November 25 after the international break.
Reports that the deal could come as soon as Monday have, however, been dismissed as that is the date of Sir Bobby Charlton’s funeral.
The deal is expected to lead to a major shake-up of United’s football operations. Sir Dave Brailsford, the former performance director of British Cycling, is expected to take on significant influence in his role as Ineos’s director of sport.
The Manchester Evening News understands that Ratcliffe has been holding virtual meetings with United co-chairman Joel Glazer