There is a very loud contingent of Manchester United supporters online who frequently express their belief that Sir Jim Ratcliffe should not buy the club. If you count yourself as being among this group, then well, we have some good news for you.
The Ratcliffe led bid to buy the club is in serious trouble. How serious? Take a look at what Bloomberg business reporter David Hellier had to say.
Hellier told United View TV: “For my part, I picked up on another aspect of this which was to do with the Ratcliffe side.
“I was picking up from advisors to Man United that his bid, as things stand, is dead in the water.
“I mean absolutely dead in the water. And the reason for that is he’s proposing a structure that would buy out the Glazers, the majority shareholders, and not offer anything to the minority holders.
The minority holders are slightly aggressive funds, mainly in the US, there are some in the UK. I was told they’ve made it clear to the Manchester United board, via a letter that was sent, that said:
‘If you recommend this offer which prejudices us, gives us no offer at all, we end up with discounted shares while the Glazers get everything. We will sue’.”
Yes, the scenario where the ownership saga ends up in court, taking something that is already far beyond the pale of tedium, and somehow making it even more protracted.
We covered this exact scenario three weeks ago. If the minority investors, which consisting of: hedge funds, investment bankers, wealth management/capital firms (like the Carlyle Group) and other assorted elitist finance bros get shut out they will sue.
And that is not just saber rattling either, they’ll do it. So if all this is true, and doesn’t change, it means we’re now looking at the Sheikh Jassim bid (which we covered earlier today) or nothing.
And with that, Jim Ratcliffe, INEOS founder and British billionaire, goes the way of Thomas Zilliacus– big money bidder who fell short in his attempt to purchase the club.
That said, this whole saga has seen so many ups and downs that no one really knows. Sir Jim Ratcliffe was once the front-runner in the MUFC Takeover derby, with reports he was nearing a deal.
So much for that I guess.
The Qatari bid definitely seems to be the most popular outcome, among the fan base.
