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Sir Jim Ratcliffe Is Getting Closer to Buying Manchester United, Negotiations at an Advanced Stage Over A Potential Takeover

According to latest reports, Sir Jim Ratcliffe is currently involved in negotiations with the Glazers family over the potential takeover of Manchester United and talks are said to be at an ‘advanced stage’ after establishing his interest in buying the club a few months back.

The Glazers bought the Manchester-based club for a fee close to £800 million in 2005. The club have spent loads of money since then but has failed to prioritise its expenses, neglecting the requisite developments for the advancement of the team.

The American business family have been accused of not supporting their managers enough and that they run the club for commercial purposes. After suffering through an awful season last year, the Red Devils look forward to restarting under a new regime after the change of ownership.

Image Obtained Via The Telegraph

In November, the Red Devils put out a statement that the Glazers are open to selling the club. Sir Jim Ratcliffe was the first to enter the race to buy one of the biggest clubs in Europe but, the Manchester United owners are taking their time to select the best option out of those available.

According to Italian news outlet Tuttomercatoweb (via Football 365), Sir Jim Ratcliffe is getting closer to completing the takeover of Manchester United. The report states that talks between the two parties are at an ‘advanced stage’ over a deal that could be worth over £4 billion.

Now, as reported by Bloomberg, the English businessman has hired Wall Street firms JP Morgan and Goldman Sachs to assist and guide him through the takeover process. The report states the two investment banks are prepared to back the billionaire with loans and bonds to complete the takeover.

The INEOS supremo is currently the richest man in the United Kingdom, worth an eye-watering £11bn according to Forbes and is more than capable of completing the deal. However, he would have to invest further to improve the facilities and keep the club running.

Sir Ratcliffe has been a fan of the 20-time English champions since his childhood days. He did make an attempt to buy Chelsea since the Red Devils were not in the market at that time. However, he was the first to put down a formal offer when United announced they were up for sale. In fact, he has also made attempts to buy the club before only to get rejected by the Glazers.

However, according to Foot Mercato reporter Santi Aouna, Sir Jim Ratcliffe is not willing to offer more than $4bn to buy Manchester United. The French journatlist reports that the British billionaire will not match the Glazers’ demand of $6bn. Some reports suggest that United have attracted some interest from Dubai and Saudi too.

Sir Jim Ratcliffe will have to invest highly in the club. There have been complaints about Old Trafford and the training facilities at United. Moreover, he will also have to connect more with the fans which the Glazers absolutely failed to do. Renovation of the stadium and other facilities while also focusing on the transfer strategy will need balanced and skilful attention from the new owner.

Is Sir Jim Ratcliffe The Right Man To Take Over Manchester United?

The Glazer family was highly criticised for their involvement in the failed European Super League idea. The fans had also called them out for not investing properly in the club. Moreover, it was also seen that some of the decisions that the American owners made were because of commercial reasons and not what was needed for the football club.

The INEOS CEO owns OGC Nice who has been performing decently in the French league. According to Forbes, he has a jaw-dropping net worth of $15.7 billion. He is certainly capable, financially, of fulfilling all the primary objectives required to repair Manchester United.

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The Glazers did not run the club in a transparent manner. They didn’t have the trust of the fans and those who run the club. Sir Ratcliffe can solve this as he is a boyhood Man United fan and does believe in engaging with the fans. The gloomy clouds that shrouded Manchester United under the ownership of Glazers could finally make way for sunshine in the form of Sir Jim Ratcliffe.

The Red Devils manager Erik ten Hag has already started implementing his project on the pitch with the support he has got so far. United already look far more challenging than last season and can thrive more with the proper backing of a new owner.

Both Ten Hag and Ratcliffe will need each other’s support to bring back the glory days at Manchester United. The Red Devils may have gotten a little direction in selecting their new owner after observing the current situation of Manchester City with their Dubai-based owners.

Follow AD for the Latest Updates for Manchester United.

The post Sir Jim Ratcliffe Is Getting Closer to Buying Manchester United, Negotiations at an Advanced Stage Over A Potential Takeover appeared first on Arsedevils.



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Sir Jim Ratcliffe Is Getting Closer to Buying Manchester United, Negotiations at an Advanced Stage Over A Potential Takeover

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