The acquisition of a 25% stake in Manchester United by Sir Jim Ratcliffe, worth £1.3 billion, is facing unexpected delays, sparking concerns about Sheikh Jassim bin Hamad Al Thani’s potential takeover fears until the Glazer family’s approval is granted, possibly extending into the next year.
The extended takeover saga, initiated by the Glazers’ strategic review over a year ago, involves Sir Jim and Sheikh Jassim. Sheikh Jassim withdrew his £5 billion bid for complete ownership in October due to the Glazer siblings’ reluctance to sell.
Sir Jim emerged as the leading contender, aiming to retain the Glazer siblings’ substantial stake while giving INEOS control over sports. Persistent delays, potentially tied to unresolved legal matters, have likely tested the patience of the 71-year-old founder of the major petrochemicals company, designated as the preferred bidder.
Reports suggest legal issues might postpone his certified ownership of a 25% stake in Old Trafford until the following year. Despite setbacks, both parties are committed to the investment, seeking a prompt conclusion. However, the prolonged uncertainty leaves room for Sheikh Jassim’s potential return if Sir Jim fails to secure a position at Manchester United.
Rumors hint that the Qatari banker, a devoted Manchester United fan, is considering alternative football investments, such as negotiating to invest in Serie A giant Inter Milan, given the club owner’s legal issues and debts to Oaktree totaling £340 million.
Sheikh Jassim’s wealth benefiting the San Siro stadium could serve as a poignant reminder to Manchester United of missed opportunities. Despite the Glazers’ proactive investment approach, Sir Jim’s anticipation for a minority ownership in the Red Devils is likely to linger. The billionaire from Failsworth is expected to assume control of football operations at Old Trafford by the following summer.
As the intricate dance of football ownership unfolds, uncertainties persist, and the fate of Manchester United’s ownership structure remains in flux, with multiple stakeholders vying for control and influence in the ongoing saga.
