|Billionaire Jim Ratcliffe Considers Manchester United Minority Stake|
British billionaire Jim Ratcliffe, the founder of chemicals giant INEOS, is reportedly reevaluating his bid for Manchester United. Recent reports suggest that Ratcliffe is now considering offering to purchase a minority stake in the club, marking a shift in his initial intentions.
Ratcliffe had emerged as one of the top contenders, alongside Qatari banker Sheikh Jassim Bin Hamad Al Thani, in the race to acquire the prestigious English football club, which has won the Premier League title a remarkable 20 times. However, the takeover process has been protracted and tumultuous, with both Ratcliffe and Sheikh Jassim submitting multiple bids.
The Glazer family, who had previously expressed their willingness to sell the club in November, has yet to make any progress towards a change in ownership. Last month, Manchester United's valuation on the New York Stock Exchange experienced a sharp decline amid reports that the Glazers might not proceed with the sale.
In light of the current impasse, Ratcliffe is reportedly exploring the possibility of acquiring a minority stake in the Premier League giants. According to 'Sky News,' Ratcliffe may seek a stake of approximately 25 percent as part of a proposal aimed at expediting the protracted sale process. This marks a departure from his initial goal of securing a majority takeover.
If Ratcliffe's new offer were accepted by the Glazers, the American family would maintain majority control of the club, which they acquired in 2005. However, it's important to note that the Glazers have been a subject of significant controversy and criticism among United's supporters. Many fans accuse the family of burdening the club with debt and failing to make adequate investments.
In a notable demonstration of dissent, thousands of fans staged an hour-long sit-in protest at Old Trafford following a 3-2 victory over Nottingham Forest in August. Furthermore, Manchester United's Premier League campaign has commenced poorly, with the team currently positioned 10th in the league table after suffering four losses in their first seven games of the season.