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The proposed deal for Sir Jim Ratcliffe to assume 25% control of Manchester United will not be ratified by the club’s board on Thursday, as had previously been expected.
The Telegraph have revealed negotiations concerning the “final details” of the potential minority stake offer are still being “thrashed out.”
This means, according to a source close to the deal, there will be “no decision this week.”
Previous timelines had been hopeful of confirmation coming on Thursday following the 12-strong board’s pre-arranged meeting to, potentially, vote on the proposal.
Well-placed insiders contend talks are “progressing at a clip” however, indicating a deal is still “within sight” over the next fortnight.
Ratcliffe is thought to desire expediency in order to establish full control over the footballing operation at Old Trafford, with ample time prior to the January transfer window.
The potential of a comprehensive restructuring at the executive level has been discussed, with Ineos officials set to carry out a 100-day investigation of the current system at United.
From today, there are 105 days left until the close of the winter window.
Ratcliffe had struck a preliminary agreement with the Glazers on the weekend following the news Sheikh Jassim bin Hamad al Thani had withdrawn from the process.
This left the INEOS bid as the last offer standing in a protracted, almost farcical, process which has inflamed the Old Trafford faithful.
The initial minority stake is thought to be the “first step toward a gradual takeover” by Ratcliffe, with the INEOS owner wanting a clause included which enables him to eventually achieve full ownership of the club.
Key figures within the process remain doubtful of Sheikh Jassim’s decision however.
The Telegraph have spoken to sources who are “sceptical” the Qatari banker has completely withdrawn from the process, though figures close to Sheikh Jassim “reaffirmed their insistence that he told the Glazers last week he had quit the process.”
Kaveh Solhekol (Sky Sports) believes you “cannot totally rule out” the prospect of Ratcliffe’s deal falling through and the Qatari bid re-emerging to fill the void. Solhekol indicates there is “no indication” this will happen right now, but reaffirms that Sheikh Jassim does possess the requisite “finances” to fund a full takeover.
There may be a twist or two left in this tale yet.
The post The reason why Sir Jim Ratcliffe’s deal has been delayed appeared first on Man United News And Transfer News | The Peoples Person.
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| Article Name | “No decision this week”: Glazers to delay Ratcliffe's proposed deal - report |
| Description |
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| Author Name | Candyboy |
| Published On | October 18, 2023 |
| Post Category |
Man Utd
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