Sir Jim Ratcliffe is ‘close’ to agreeing a deal with the Glazers to purchase a minority stake in Manchester United.
British billionaire Ratcliffe, 70, was left as the only remaining bidder for United on Saturday night after Qatari businessman Sheikh Jassim bin Hamad Al Thani withdrew from the race to purchase the Premier League club, according to multiple sources.
ESPN journalist Rob Dawson broke the news, posting on X: “Sheikh Jassim and his team are not commenting officially but have informed the Glazers and Raine that they have withdrawn from the process.
“Negotiations have taken place in recent days and feeling is that the Glazers’ valuation of the club is unrealistic.”
Ratcliffe is believed to have submitted a new offer for United that will see him purchase a minority stake in the club, with the view to eventual take full control from the Glazers in the future.
Sky Sports News reporter Kaveh Solhekol confirmed that Ratcliffe is ‘close’ to agreeing a deal with the Glazer family that will see the Americans remain in control of the club.
“Sir Jim Ratcliffe (INEOS) close to agreeing deal to buy 25 per cent of Manchester United,” Solhekol posted on X.
The Times have also reported Ratcliffe’s latest offer to buy a 25 per cent stake in the club is set to be approved.
The report added: “The Sunday Times understands will be the first stage of a full takeover.”
Ratcliffe’s firm INEOS are expected to pay £1.3bn for a 25 per cent stake, with the decision set to be formalised at a board meeting next week.
Meanwhile, the Daily Mail report that Sheikh Jassim attempted to salvage his bid for the club with last-gasp talks in recent days, which proved to be unsuccessful.
“The Qatari believed he would have been the ‘dream owner’ according to those with knowledge of the situation, and is saddened by how it has played out,” read the report.