British billionaire Jim Ratcliffe officially enters race to buy Manchester United from Glazers

Neither of the two leading proposals Manchester UnitedIn front of him is Sheikh Jassim Bin Hamad Al Thani, a Qatari banker, and Sir Jim Ratcliffesubmitted its enhanced proposals for the club by Wednesday’s deadline, Independent understands.

Both sides had until 21:00 to submit their bids, but instead they requested an extension and it was given to them. Both groups will submit their second, improved bids on Thursday, with bids for the club expected to be in excess of £5bn.

Ratcliffe was expected to submit their proposals before the bid deadline, led by the INEOS group and Sheikh Jassim, but dramatically it turned out that the Raine group received no bids. However, an extension has been given to the process, and both Ratcliffe and Sheikh Jassim plan to meet the new deadline.

The Glazers, which bought Manchester United for £790m in 2005 and put the club in debt, are asking for around £6bn, a record fee for a football club. Follow the latest updates on the takeover below:

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The most expensive Premier League takeovers in history

After 2008: Stan Kroenke for Arsenal, £731m

American billionaire Stan Kroenke has an affair Arsenal Since 2008, he has spent more than £700 million in total to gain and maintain majority control of the club. Septuagenarian also owns a team in the NFL, NBA, NHL, and MLS.

Luke Baker23 March 2023 12:00

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The most expensive Premier League takeovers in history

2021: PIF for Newcastle, £300m

A consortium led by the Saudi Public Investment Fund completed its acquisition of Newcastle in October 2021. The deal was delayed after initial resistance from the Premier League amid significant criticism from human rights groups and news of Qatar-based television partner beIN’s impact on the league. Sports, however, it was finalized after a long process of 18 months.

Increased investment has made Eddie Howe’s team one of the top four contenders this season.

Luke BakerMarch 23, 2023 at 11:45

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The most expensive Premier League takeovers in history

2010: Fenway Sports Group for Liverpool, £300m

Fenway Sports Group (FSG), which currently owns Major League Baseball’s Boston Red Sox, completed its acquisition of Liverpool in October 2010. Led by billionaire John W Henry, the sports investment conglomerate was founded in 2001 and its investments helped Jurgen Klopp set up the first. Liverpool side that won the Premier League title.

Luke Baker23 March 2023 11:30

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The most expensive Premier League takeovers in history

We look at the most expensive Premier League takeovers in history, starting with their noisy neighbors, with the acquisition of Manchester United for a sports team at a potential world-record price.

2008: Sheikh Mansour for Manchester City, £210 million

agreement to establish it. Manchester City As one of the Premier League’s biggest clubs, it is leading an era of record transfer deals and substantial, sustained success. Sheikh Mansour, Deputy Prime Minister of the United Arab Emirates, completed his controversial takeover in September 2008 through the Abu Dhabi United Group, an investment arm of the Abu Dhabi royal family.

Luke BakerMarch 23, 2023 at 11:15 am

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Manchester United takeover: Deadline for bids extended

There was a late change to the Manchester United takeover saga last night! Independent It now understands that neither of the two leading bids for Manchester United, led by Qatari banker Sheikh Jassim Bin Hamad Al Thani and Sir Jim Ratcliffe, had submitted their enhanced bids for the club until Wednesday’s deadline.

Both parties had until 9 PM to submit their bids, but instead requested an extension of the deadline. Bids for the club are expected to be in excess of £5bn, with both groups due to submit their second, upgraded bids on Thursday, a crucial step in the takeover process.

Ratcliffe’s group INEOS and Sheikh Jassim were expected to submit their bids before the bid front deadline, but in a dramatic turnaround that surprised even those close to the process, it turned out that Raine’s band had received no bids. However, the process was allowed to be extended.

Luke Baker23 March 2023 11:00

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What is the difference between the offerings of Sheikh Jassim and Sir Jim Ratcliffe?

While neither Sheikh Jassim nor Sir Jim Ratcliffe are thought to have exceeded £5bn in their initial bids, both are expected to approach the target for the second time after they were given an extension to the initial deadline until 9pm yesterday.

However, the two proposals were for different ownership interests and brought different options to the table for Manchester United as a football club.

Sheikh Jassim wants to take over the entirety of United, meaning he will buy 69 percent of the Glazer family and then the remaining 31 percent made up of smaller investors. This may take some time as he will need to contact and negotiate with each investor to buy their shares.

The Qatari banker also made several commitments to invest in certain areas of the club, such as the renovation of the stadium, leaving United in debt after the cash buyout.

Ratcliffe’s offer is only for a 69 percent stake and majority shareholder in Glazers. At this stage, it does not offer to buy out the remaining shareholders.

He will need to borrow money to finance any takeover, and his company, INEOS, has not committed to paying off the club’s £656m debt.

Those close to his offer say there will be no new debts to the club, but we’ll see if Ratcliffe can pay off his debt over time.

Luke Baker23 March 2023 10:40

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Paul Scholes hopes fan unrest ends if Manchester United gets new owners

The Glazer family is considering selling their Old Trafford giant after 18 years of disputed ownership.

The Americans have invited interested parties to submit their plans to move the club forward, which could mean either a complete takeover or a substantial investment.

Two bidders so far, owner of Ineos Sir Jim Ratcliffe and Qatari businessman Sheikh Jassim went public with plans to take full control of the club, but there may be other interests.

Former United midfielder Scholes doesn’t have a choice as to who takes charge, he just hopes it’s for the sake of harmony.

Luke Baker23 March 2023 10:20

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Finance expert says Manchester United not worth valuation of Glazers

Football finance expert Kieran Maguire says the claim that the Glazer family will receive more than £5 billion for the Red Devils is not true.

In a similar comparison, Todd Boehly’s consortium bought Chelsea for £4bn, and the Glazers’ value doesn’t seem too exaggerated, as Manchester United have historically been the wealthier and more successful, more commercially viable side.

“Manchester United is a much bigger football club than Chelsea,” Maguire told CNN.

“It’s like putting your house up for sale and you give a rough guide price. Glazers is seeking $7.2 to $9.6 billion. It’s probably not worth it… and it depends on how much each party is willing to make concessions or pay in terms of extra financial commitments.”

Luke Baker23 March 2023 10:00

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Qatar’s takeover of Man United could be a new low for English football

Qatar took over Manchester United It would be nothing but an English football travesty, Writing Miguel Delaney.

This is a disgraceful moment for the sport. Worry is twofold, both having a multiplying effect on the other to have a potentially irreversible effect on the game. At its moral core is that the biggest club in English football represents the biggest problem in football right now. United would be used politically to mitigate one of the most criticized human rights records in the world, which focused on a work system described as modern slavery and ultimately made this noble institution complicit.

United would no longer be just a community of fans excited by Salford, Manchester and a glorious history of adventure and challenge. would be about Train, foreign policy and the kind of issues that should not concern football. “Sport wash” is a very bland description of what’s actually going on here, especially when you consider the other subject.

The acquisition of United in a state bid means that all three main countries maintaining the Gulf blockade eventually have big clubs, including the biggest one in England. what for what Premier League is is? The world’s most-watched league would become, to far greater degrees, the most morally uncompromising league. The contest would turn into a political arena. Manchester would become a political arena. No one should be misled about this.

Read Miguel’s full post on the consequences of Qatar’s Man Utd takeover:

Luke Baker23 March 2023 09:40

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Who else is on the run?

Qatar’s Sheikh Jassim and Sir Jim Ratcliffe are the faces of the two most public tenders for Manchester United, but in the last week as many as eight interested parties toured the Old Trafford and Carrington training ground.

It is known that Elliott Investment Management, a US hedge fund, contacted Raine, the bank that handled the sale of the Glazer family. Their offer is to help fund any takeovers, and they say they will help Glazers if a sale doesn’t materialize.

In this result Joel and Avram Glazer could potentially buy out their other siblings as one rumor is, but that borrowing will likely be used against the club as opposed to the two of them and it won’t go too well among Manchester United fans. .

Other investment groups, including Ares Management, which declined to comment on its involvement, are also thought to have offered their capital to potential bidders and the Glazer family.

Luke Baker23 March 2023 09:25