Sir Jim Ratcliffe’s bid to takeover Manchester United has been described as ‘dead in the water’ as things stand.
Ratcliffe and his petrochemicals firm, Ineos, had been viewd as the favourites to be given exclusivity status to complete a takeover at Old Trafford, ahead of an approach from Sheikh Jassim bin Hamad bin Jaber al-Than of Qatar.
However, financial journalist David Hellier has claimed that Ratcliffe’s proposal is ‘dead in the water’ as things stand and a Qatari takeover or no sale are now seen as the likeliest outcomes.
CBS report that Ineos sources have said that it has not been communicated to them that they are out of the race, but there is a sense that the structure of Ratcliffe’s proposal must be changed to gain approval from the Manchester United board.
Ratcliffe’s proposal had been for a controlling stake, but one which would have allowed the Glazers to retain a stake in the Premier League side as an investment.
The approach from Qatar, which has seen Sheikh Jassim submit five offers for the Red Devils, is for a 100% takeover.
