Sir Jim Ratcliffe set to buy initial stake in Manchester United after outplaying Sheikh Jassim
Sir Jim Ratcliffe and Ineos are now in line to buy an initial 25 per cent stake in Manchester United, with the decision set to be ratified at a club board meeting this week. The billionaire petrochemicals mogul wants this to be a “path to a majority”, according to involved figures, and will already be seeking influence on football decisions. While Sheikh Jassim’s withdrawal was confirmed on Saturday evening, this has been interpreted as “face-saving”, as the ultimately underwhelming Qatari bid had been tactically outmanoeuvred by Ineos. It had long been felt by those with knowledge of Ratcliffe’s bid that Avram and Joel Glazer would ultimately never agree on a full sale now – preventing the unanimity required – which led the Ineos bid to pursue alternative options. Ratcliffe’s decision to go for a 25 per cent minority stake, valued at around £1.3bn, was seen as bringing a breakthrough in the last month while also staving off any concerns about legal challenges if he went for the Glazers’ 67 per cent. The owners of A shares had been willing to go to litigation if Ratcliffe only agreed to purchase the more powerful B shares, but he will now purchase a mix. Qatar never budged from only wanting a full sale but their offer of around £5bn was consistently seen as surprisingly low, and figures involved always found it confusing as to why the Jassim-fronted bid went no higher given the obvious prestige of such a club. One figure with knowledge of the Qatari side insisted that some of it came down to the perception of getting a good deal and not being seen to overpay. The irony is that one reason Joel and Avram Glazer have been so reluctant to sell is because they still expect an explosion in valuation over the next decade. Read More Sheikh Jassim withdraws from Manchester United takeover process Sheikh Jassim withdraws offer to buy Manchester United over Glazers’ high price Daniel James insists Wales can still qualify for Euro 2024
1970-01-01 08:00
Who is Justin Herbert’s brother on the Oregon Ducks?
Chargers star and former Oregon quarterback Justin Herbert has a brother on the current Oregon football team. Who is he?
1970-01-01 08:00
Rangers' Semien and wife schedule daughter's birth during break before ALCS against Houston
Marcus Semien and his wife Tarah’s fourth child was due during the AL Championship Series
1970-01-01 08:00
Germany beats US 3-1 in soccer exhibition as Reyna plays under Berhalter for first time since feud
Niclas Füllkrug and Jamal Musiala scored three minutes apart early in the second half, and Germany rallied to beat the United States 3-1 in an exhibition as Gio Reyna played under American coach Gregg Berhalter for the first time since their family feud erupted
1970-01-01 08:00
Italy ease past Malta to keep pressure on England in Euro 2024 qualifying
Italy secured a routine 4-0 victory over Malta to keep the pressure on England in Group C of the Euro 2024 qualifiers. Giacomo Bonaventura opened the scoring for the Italians for his first-ever international goal and Domenico Berardi then scored twice – either side of half-time – before Davide Frattesi added a fourth in added time. Ukraine picked up an important three points in a bid for their group-stage hopes after they ran out 2-0 winners over North Macedonia. Ukraine opened the scoring in rather fortunate fashion as an Heorhiy Sudakov effort from outside the area was heavily deflected into the net to make it 1-0. The Ukrainians had to wait till stoppage time to rubber stamp the points when Oleksandr Karavayev spotted goalkeeper Stole Dimitrievski off his line before firing home. In Group G, Hungary put themselves in the driving seat to qualify from the group after they defeated Serbia 2-1 at home. Barnabas Varga put the hosts ahead after 21 minutes and they were pegged back 12 minutes later through Strahinja Pavlovic, but Hungary instantly regained their lead when the ball fell for Roland Sallai, who let fly from 25 yards to win the match. Lithuania registered their first win of the qualifiers at the sixth attempt thanks to defender Pijus Sirvys’ double either side of half-time to beat 10-man Bulgaria 2-0. Three minutes after Adrian Kraev was sent off for a second bookable offence, Lithuania opened the scoring on the stroke of half-time after Sirvys bundled the ball home from a corner and he doubled their advantage 10 minutes after the break to pick up their first three points of the competition. In Group H, Northern Ireland wrapped up a 3-0 victory over lowly San Marino. Paul Smyth opened the scoring for the home side at Windsor Park in superb fashion with his scissor-kick from inside the area and they doubled their advantage six minutes later through Josh Magennis before adding a third – nine minutes from time – when Conor McMenamin netted his first international goal from close range. Slovenia strengthened their grip on qualifying following a 3-0 rout over Finland. Leipzig forward Benjamin Sesko netted twice in the first half, firstly from the penalty spot before he raced through on goal and buried his second and all three points were rubber stamped in stoppage-time thanks to Eric Janza’s strike. Denmark stayed level on points with Slovenia to occupy the top two spots after they earned a 3-1 win over Kazakhstan. Jonas Wind opened the scoring in Parken when he bundled home from close range and Robert Skov added a second before he latched onto Christian Eriksen’s through ball to slot home Denmark’s third. Read More New Zealand end Ireland’s World Cup dreams as quarter-final curse continues Ben Earl convinced England can prove critics wrong in last-eight Fiji showdown Sam Tomkins’ career ends with Grand Final loss to his former side Wigan Warren Gatland admits change of referee did not help Wales in Argentina loss Sheikh Jassim withdraws from Manchester United takeover process Emiliano Boffelli stars as Argentina send Wales home from World Cup
1970-01-01 08:00
George Kittle pays price for NSFW Cowboys troll
George Kittle receives fine for 'abusive language' on shirt mocking the Dallas Cowboys.
1970-01-01 08:00
Sauce Gardner downgraded to out with a concussion. Jets without their top cornerbacks vs. Eagles
Sauce Gardner was downgraded to out with a concussion, leaving the New York Jets without their top two starting cornerbacks for their game against the Philadelphia Eagles
1970-01-01 08:00
Annular solar eclipse transfixes crowds across the Americas
By Alberto Fajardo CAMPECHE, Mexico Thousands of people across the Americas gazed at the heavens on Saturday to
1970-01-01 08:00
Mexico presses Israel to open humanitarian corridor to Gaza
MEXICO CITY Mexican Foreign Minister Alicia Barcena on Saturday urged Israel to open a humanitarian corridor to Gaza
1970-01-01 08:00
Manchester United fans fume at Glazers as £5bn Sheikh Jassim bid collapses
Manchester United will not be taken over by Qatari ownership after a drawn-out process has led to the main buyer pulling out of the bidding process. BBC Sport were informed that banker Sheikh Jassim bin Hamad Al Thani had withdrawn from the process after placing a £5 billion bid for the club, which now leaves Ineos Group - headed by Sir Jim Ratcliffe - as the sole bidder for the Reds. Sheikh Jassim's bid would've also cleared the debt at the club - which currently stands to almost £1 billion. Confusion over the current owners - the Glazers - preferred sale options (selling a minority stake vs outright ownership of the club) led to a lengthy takeover process involving Sheikh Jassim and Ratcliffe - and it appears that timeline has now stretched out too long for the Qatari. Other reports say that Sheikh Jassim and his consortium refused to raise their offer to meet the Glazers changing expectations, leaving the bidding process in frustration. The withdrawal of Jassim from the process has rocked plenty of United fans, who have taken to X/Twitter to fume over the news, blaming the Glazers for the predicament: Ratcliffe remains the last party standing and is holding out for a minority deal in United - which will leave fans further frustrated as it keeps the Glazer family in control for the time being. It is thought that Radcliffe's deal will be the first step in a prolonged buyout with eventual control passing to Ratcliffe in the years to come. Ever since their takeover in 2005 using a leveraged buyout, the Glazers have found themselves in the crosshairs of MUFC fans who believe that the current owners are heaping debt onto the club and holding it back from its full potential. The pressure on the Glazers will now raise, though, as United fans struggle to process the reasons as to why Jassim's massive bid was rejected. Sign up to our free Indy100 weekly newsletter Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.
1970-01-01 08:00
U.S. State Dept aware of 29 citizens dead and 15 missing - spokesperson
RIYADH Twenty-nine citizens of the United States have perished in Hamas attacks in Israel, a U.S. State Department
1970-01-01 08:00
3 New Jersey Devils to blame for overtime loss to Arizona Coyotes
The New Jersey Devils fell to the Arizona Coyotes in a sloppy game for their first loss of the season.
1970-01-01 08:00
