Jim Ratcliffe is poised to acquire a 25% stake in Manchester United Plc (NYSE:MANU) in a much-anticipated £1.25 billion deal as early as next week, according to a Sky News report.
The transaction, which will see Ratcliffe's Ineos Sports taking two boardroom seats at Old Trafford, includes a $33-a-share tender offer to acquire 25% of the club's listed A-shares and 25% of the B-shares from the club owners, the Glazer family.
Ratcliffe intends to invest $300 million (£245 million) into United's ageing infrastructure, with a significant portion of this capital provided in the near term and financed personally by him, thus not adding to Manchester United’s borrowings.
The Glazer family, who have controlled Manchester United since 2005, began exploring a sale of the club last year.
Several potential buyers, including Qatari businessman Sheikh Jassim bin Hamad al-Thani, who sought full control of the club, were said to be interested.
Sheikh Jassim ended his interest in October with the club’s co-chairs Joel and Avram Glazer apparently reluctant to sell out entirely.
Ineos is expected to take immediate control of the playing side of the club. However, the future ownership structure of United remains uncertain.
Reportedly a lifelong Red Devils fan (despite bidding for Chelsea in 2022), Ratcliffe has previously suggested that full control of the team would be part of the deal.
The Glazers' 18-years of ownership have been contentious, marked by fan protests and controversy, particularly following the absence of a Premier League title since Sir Alex Ferguson's retirement in 2013 and the club's proposed involvement in the European Super League in 2021.
Manchester United stock was listed on the New York Stock Exchange in August 2012.