According to a media report, British billionaire Jim Ratcliffe is considering buying a minority stake in English soccer record champions Manchester United.
Ratcliffe’s company Ineos Sports has made an offer to the Glazer family, which has control of the club, Sky News reported on Monday. The billionaire is now no longer seeking full control of Manchester United in order to end an almost ten-month process to clarify the club’s future ownership. Manchester United and Ineos did not immediately respond to Reuters requests for comment.
In June, insiders said that the Glazers had held exclusive negotiations with a consortium led by Sheikh Jassim bin Hamad al-Thani from Qatar. The deal was valued at more than six billion dollars.
ManU has won the English championship title 20 times, more often than any other club – although the last time was ten years ago. Thanks to its huge fan base, the club is considered one of the most valuable football brands in the world. In the past 2022/23 season, ManU qualified third in the English Premier League for the Champions League again after a year. The Glazers have been criticized by fans because the team is not showing the desired performance on the pitch. The family bought the club in 2005 for £790 million. The club has been listed on the New York Stock Exchange since 2012.
Manchester United shares gained 2.52 percent to $19.90 premarket on the NYSE.
Bangalore (Reuters)