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"I was told..." - Financial expert claims Sir Jim Ratcliffe's bid for Man Utd is 'dead in the water'

"I was told..." - Financial expert claims Sir Jim Ratcliffe's bid for Man Utd is 'dead in the water'

Ratcliffe's bid is said to be "dead in the water".

Sir Jim Ratcliffe’s bid to buy Manchester United is “dead in the water”, according to a financial expert.

It’s been over seven months since the Glazers announced they were exploring “strategic alternatives” for the Old Trafford club, and it remains uncertain who will be the United owner in the 2023/24 season.

Sheikh Jassim bin Hamad al-Thani and Ratcliffe remain the two frontrunners in the takeover race, with the former reportedly becoming 'increasingly confident' that his proposal will come out on top.

As per the Manchester Evening News, the Qatari banker, who is looking to purchase 100 per cent of the club, is reportedly confident he is leading the race but is also preparing for the possibility that the Glazers may opt against selling the club.

Meanwhile, Bloomberg’s financial reporter, David Hellier claimed that Ratcliffe’s United bid did not sit well with minority shareholders, who have reportedly made it clear that such a proposal is not acceptable.

Ratcliffe’s Man Utd bid ‘dead in the water’

Speaking to the United View, Hellier claimed Ineos owner Ratcliffe’s United bid was “dead in the water.”

The financial expert said: “I was picking up from advisers to Man Utd that basically [Ratcliffe’s] bid, as it stands, is dead in the water - absolutely dead in the water.

“The reason for that is he’s proposing a structure which 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, but there are some in the UK.

“I was told that they have made it absolutely 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, [and sees us] end up with discounted shares while the Glazers get everything, we will sue’.

“It’s threatening, [saying], ‘We’re not going to take this very well’.

“I was then being told by the Man Utd side that - they have three independent directors - and I was told that those directors will never, ever, ever recommend that bid under these circumstances with this threat.

“So either sort out the threat, restructure that bid, or talk to the shareholders, get them to say what they want and [establish] how they can get around it, or it’s finished.

“So essentially I was told that Ratcliffe’s bid is dead.”

Featured Image Credit: PA

Topics: Football, Manchester United, Premier League