Man Utd takeover: Sir Jim Ratcliffe bid 'dead in the water' in huge Sheikh Jassim boost
Manchester United takeover: Sir Jim Ratcliffe and Sheikh Jassim are battling for power at Old Trafford, with the Glazers yet to indicate their preferred candidate.
Ten Hag details meeting with Ratcliffe amid Man Utd bid
Sir Jim Ratcliffe’s bid to buy Manchester United is ‘dead in the water’, it has been claimed. The INEOS chief is hoping to strike gold at the second attempt, having missed out on purchasing Chelsea last year. This latest development, however, would hand rival Sheikh Jassim a massive boost.
Man Utd takeover: Sir Jim Ratcliffe bid is 'dead in the water' (Image: GETTY)
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“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’.
“I was then being told by the Man United side that they have three independent directors.
“And those directors would never, ever sanction or recommend that bid under these circumstances with this threat.”
Man Utd takeover: Sir Jim Ratcliffe insists he's a fan of the club (Image: GETTY)
He said: “What you want from leaders is good, clear communication.
“The Glazer family do the exact opposite.
“They’re in a position of authority, looking after a community – and United’s fans around the world are a global community – but the Glazers haven’t communicated with them for nearly 20 years.
“The sale process is extending to an unpalatable length, everyone’s in the dark, and it’s symptomatic.
“They have to exit, but I haven’t got faith that they’ll do the right thing.”
Neville also admitted he’d be unhappy if Ratcliffe kept the Glazers at the club.
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Man Utd takeover: Sheikh Jassim is hoping to capitalise on Sir Jim Ratcliffe issues (Image: GETTY)
“I’d like the Glazers to leave in full, even now with how they're dealing with the sale process, which means it's ultimately dragged out,” he said.
"They can't make a decision and there are other examples of that. They can't deal with things that are difficult.
“Hopefully we can have a full exit, but with the Ratcliffe bid, it looks like a part exit with two of them staying [Joel and Avram]. I don't like the idea of that.
"If that bid comes forward and is successful, which is the talk, I'd like to think there's a fixed exit for the Glazer brothers organised in let's say, two years, so we know they're leaving.
“Ratcliffe comes in and brings in another investor to take them out."