Featured Image Credit: Getty
Topics: Manchester United, Football, Sir Jim Ratcliffe
Marcus Chan
New details of the 'secret' UAE consortium reportedly interested in buying Manchester United have emerged.
Back in 2005, United were bought by the Glazer Family for £790 million.
However, in recent years, fans have expressed their discontent over the owners, after years of below-par performances on the pitch and the lack of investment off the pitch with regard to the stadium.
In 2023, INEOS boss and British billionaire Sir Jim Ratcliffe bought an initial 27.7 per cent stake - worth around £1.3 billion.
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He then further invested £100 million to increase his share to 28.94 per cent in 2024.
Ratcliffe has also taken control of ‘football operations’ and had a role in appointing new CEO Omar Berrada last year.
The 72-year-old has also invested heavily in upgrading the club’s facilities, with £50 million spent on upgrading the club's training ground.
Earlier this month, it was reported that there is interest from the UAE in taking over Man United, with separate claims suggesting that the Glazer family may be willing to sell if an offer in excess of £5billion is tabled.
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Saudi Arabian government official and sports promoter, Turki Alalshikh, tweeted: "The best news I heard today is that Manchester United is now in an advanced stage of completing a deal to sell to a new investor… I hope he’s better than the previous owners."
He then added: "I am not the investor, nor are they from my nation."
It was previously claimed that several United legends were approached about becoming ambassadors for any potential bid.
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Now, according to I News, the 'former players have also been approached about becoming investors'.
Meanwhile, a financial advisor who worked with Ratcliffe for his bid to buy United, told I News: "We don’t know who they are, but we have been told they’ve been hunting around for investment from multiple other wealthy parties in the Middle East, not just former players.
"That suggests they perhaps don’t have anything like the money the Glazers would want to sell and that any takeover is a long, long way off."
In addition, it has been mentioned that if the Glazers were to sell United before February 2027, they would have to give Ratcliffe $33 (£25) per share – what he paid in the first place – as per the terms of the initial investment.