According to a report by the Daily Mail on November 13, Jim Ratcliffe is on the brink of acquiring a 25% stake in Manchester United for $1.5 billion. The deal, which has not yet been formalized with any agreement, is expected to be announced this week or the next.
Manchester United announced its intention to sell club shares on November 23 last year. During this period, Ratcliffe's main competitor, a Qatari consortium led by Jasim, was the only bidder proposing a full acquisition of Manchester United and had increased their offer five times.
However, by October this year, the Glazer family, Manchester United's largest shareholders, rejected the consortium's $7 billion offer for a full acquisition. Following this, the Qatari consortium decided to withdraw from the acquisition process.
Meanwhile, Ratcliffe has persuaded the Glazer family to sell him a portion of Manchester United's shares. He has agreed to purchase a 25% stake at a premium, with the condition of gaining operational control of the team.
The Glazers' refusal to accept Jasim's offer was driven by their understanding that signing a contract for the full acquisition of shares would mean completely losing Manchester United. They agreed to Ratcliffe's proposal because he consented to maintain the Glazer family's status within the club.
According to Front Office Sports, a U.S. business sports media outlet, Ratcliffe plans to invest an additional $300 million in upgrading Manchester United's infrastructure after acquiring the shares.
A major renovation is planned for Old Trafford, Manchester United's home stadium. As reported by Sky News, Old Trafford is in dire need of refurbishment due to severe aging. The additional $300 million will be used for Old Trafford and other club facilities and is expected to be in Manchester United's hands by the end of this year.
Despite being a traditional powerhouse in the Premier League, Manchester United has faced numerous challenges in recent years. This means that Ratcliffe's ambition to "revamp" the club will not be without its difficulties.
Manchester United's declining performance has impacted its business operations. According to Stats Foot, in the last nine official matches at Old Trafford, Manchester United conceded 16 goals, averaging 1.78 goals lost per game.
This season, Manchester United suffered back-to-back home losses for the first time since October 1962.
The club's financial situation is also concerning, currently saddled with over $1.2 billion in debt. Additionally, financial fair play restrictions make it difficult for the team to continue spending heavily on new signings.
To address Manchester United's financial issues, Ratcliffe plans to resolve problems through active and effective transfers. In the future, he intends to invest funds to provide more support and resources for team acquisitions.
As a successful businessman and sports investor, Ratcliffe will bring experience and resources to the club. Under his management and leadership, Manchester United is expected to undergo significant changes and progress.
