Manchester United takeover: Sir Jim Ratcliffe bids for 69% of club as Sheikh Hamad bin Jassim bin Jaber Al Thani attends Old Trafford games | Soccer News

Sir Jim Ratcliffe has bid for 69% of Manchester United after bids were submitted before Friday’s deadline.

Sixty-nine percent is exactly the share currently held by the Glazers. The family would not be involved if Sir Jim Ratcliffe were to buy the club.

Ratcliffe may also seek to buy the rest of the shares, which are traded on the New York Stock Exchange, in the future.

Although there is no mention of infrastructure in his statement, Sky Sports News understands that Ratcliffe is committed to redeveloping Old Trafford.

As previously reported, he would have worked with Goldman Sachs and JP Morgan – but no debt resulting from the takeover would be charged to the club, as was the case with the Glazers.

Ratcliffe is a Manchester United fan, but also tried to buy Chelsea last summer.

His company, multinational petrochemicals INEOS, has also been accused of greenwashing – using sport to boost its image and reputation.

Ratcliffe also owns cycling team INEOS Grenadiers, Ligue 1 side Nice, FC Lausanne-Sport, a Swiss Super League club, and owns a third of the Mercedes Formula 1 team.

Meanwhile, Qatari Sheikh Hamad bin Jassim bin Jaber Al Thani has traveled to Old Trafford and other United games.

He is confident that he made a compelling offer and that it is not related to Qatar Sports Investments (QSI) or the Qatar Investment Authority (QIA).

It was revealed on Saturday evening that US hedge fund Elliott Management had also filed a Manchester United proposal with the Raine Group before Friday’s 10pm deadline.

The proposal is not an offer for Manchester United, but a possible funding proposal.

The proposal could involve Elliott taking a stake in United or providing debt financing, or a mixture of both.

The Glazer family is looking for a full or partial sale or partnership with third parties. Elliott manages £46bn in assets and owned AC Milan from 2018 to August last year.

MUST raises concerns over debt levels and human rights record

The Manchester United Supporters Trust (MUST) have released a statement as offers for the club are under consideration, reiterating requests they have previously made for any new owners.

They also note concerns about the debt levels and human rights records of any potential new owners.

A statement read: “MUST have been very clear on our list of demands for any new owner of Manchester United.

“It was about restoring the club to the top of European football, investing in the teams, the wider club and the stadium, ensuring financial stability and working in true partnership with the supporters at all times.

“These principles have been supported by 150 fan groups around the world to date. The open letter to bidders has already been published.

“Any offers will be judged against these criteria, but with the news of specific offers to come, other considerations arise.

“There are questions about sporting integrity given the exceptionally close ties between some candidates and the owners of other European clubs including PSG and Nice.

“There are also questions as to whether the offers will also be based on high debt levels. We also note the importance of any landlord respecting the rights of all people, especially women and the LGBTQ+ community. Concerns have been raised by other fan groups which we fully support.

“We urge all applicants to open a dialogue with supporter groups alongside the application process with the club, to discuss their proposals, including the above issues.

“Finally, everyone can see the progress the team has made under Erik ten Hag. After the frustrations of the past decade, it is clear that huge progress is being made. Any potential bidder must make an explicit commitment to support Erik and his restoration plans. United to glory.”

How is Ineos’ participation in Nice perceived?

ESPN’s Julien Laurens on The Transfer Show last month:

“Ineos bought Nice in August 2019 for 100 million euros. The intentions were very good, to be fair.

“You can see he wants to do well. The investment has been good. On the scale of Ligue 1 and Nice, they have spent 200 million euros in these three and a half years at the club.

“Before Man Utd fans say this is what we have to spend in a summer, not three years, Nice don’t have the income of Man Utd. Ligue 1 doesn’t bring in the same money as the Premier League You have to remember the scale.

“They invested a lot of money in young players and to some extent it worked. However, in terms of results on the pitch, it was a bit disappointing.

“They finished sixth in the first season under Patrick Vieira, ninth then fifth under Christophe Galtier, who moved to PSG. So this season is currently bad because that’s the thing, Sir Jim Ratcliffe made bad choices. Lucien Favre has was appointed manager and he was the wrong one.

“He’s clearly learning, but you can’t deny that Ratcliffe loves football, and I think he wants to do well at every club he owns.”

Analysis: Sportswashing vs Greenwashing?

Sky Sports News’ Kaveh Solhekol:

“We have two owners who are fighting for Manchester United. I think there will be developments and we will hear about more bidders, but they are very different offers. Qatar, people who have almost unlimited wealth , who don’t even need the backing of the investment banks to get this deal done – and then we have Sir Jim Ratcliffe who is going to point out that he’s British, that he was born in Greater Manchester, that he’s he has been a lifelong Manchester United supporter.

“The Qataris say they want to make Manchester United great again, I think Sir Jim will say ‘I want to put Manchester United back into Manchester United’ and that’s important Manchester United, a great English institution is owned by a man of English business.

“If the battle turns out to be between Qatar and INEOS, will it be about sportswashing versus greenwashing?

“Qatar will have to answer serious questions about human rights, LGBTQ+ rights and also the ownership structure of the bid.

“INEOS will have to answer questions about whether it is using sports acquisitions to green its image as an operator of polluting industries. »