Jim Ratcliffe remains the only candidate to take over the ‘Red Devils’
Manchester United shares fall 8% on the New York Stock Exchange, after learning that the Qatari Sheikh Hamad JJ Al Thani’s investment group has withdrawn its offer for a possible acquisition to take over the British club.
The Glazer family, current owners of the club, have been looking to sell their shares for months. According to Bloomberg, The negotiations with Al Thani were around 5,000 million pounds (about 5,800 million euros) for 100% of the property. This value doubled the current stock market capitalization of Manchester United. In addition, the offer promised to revitalize the stadium and the club’s facilities. But delays and divisions between owners and shareholders have dynamited the situation and caused the sheikh to withdraw his offer.
After the scare of the Qataris, Jim Ratcliffea British businessman who also controls the company Ineos, He remains the only candidate to take over the ‘Red Devils’. However, unlike the Qatari company, Ratcliffe is only contemplating buying 25% of the shares, under a valuation of 100% greater than 5,000 million pounds.
“We have a good offer,” Ratcliffe said last July. “We would very much like to do it and I think we would do a good job if we did it,” he added in reference to entering the capital of Manchester United, a club of which he is a fan.