It has been a full year since the Glazer family first announced that they could be potentially selling Manchester United Football Club. And it is only now that we could finally see a resolution to this process, via Sir Jim Ratcliffe and his corporation INEOS.
According to Bloomberg, we’re in the final closing stages of this deal.
? ????????: The Glazers have agreed to sell 25% of their stake in Manchester United to Sir Jim Ratcliffe at about the $33/share price offered.
Once processed, the Glazers will own 52.5% and transfer control of sporting operations to SJR and INEOS.
(Source: @Bloomberg) pic.twitter.com/r5aZ01DvsN
— Transfer News Live (@DeadlineDayLive) November 17, 2023
Manchester United at Everton FC FYIs
Kick: Sun. Nov. 26, 4:30pm, Goodison Park, Liverpool UK
Transatlantic Passage: How the Premier League Redefined Soccer in America: LINK
Google Result Probability: United 39% Draw 27% Everton 34%
Premier League Form, Standing: United WWLWW, 6th, 21 pts Everton WDWLW 14th, 14 pts
According to the Bloomberg report, Ratcliffe is expected to invest around £1.4 billion in exchange for a 25% stake in the club, plus autonomy over football operations.
An official announcement of this development, from the club itself, could come early next week.
The Ratcliffe proposal beat out the proposition from Sheikh Jassim bin al Thani, who sought 100% total control of the club.
They were the only two serious bidders in the process.
Paul M. Banks is the owner/manager of The Sports Bank. He’s also the author of “Transatlantic Passage: How the English Premier League Redefined Soccer in America,” and “No, I Can’t Get You Free Tickets: Lessons Learned From a Life in the Sports Media Industry.”
He’s written for numerous publications, including the New York Daily News, Sports Illustrated and the Chicago Tribune. He regularly appears on NTD News and WGN News Now, while writing for the International Baseball Writers Association of America. You can follow the website on Twitter.