REVEALED: The 12 Man United Board to Vote on Sir Jim Ratcliffe’s £1.4bn bid for 25%
The petrochemicals billionaire, 70, appears to have won the race to invest in United after his main rival, Qatari Sheikh Jassim, withdrew from the race. While the Qataris wanted to completely buy-out the Glazer family, who currently own United, Ratcliffe plans to take a 25 per cent stake as the first step in what is viewed as a staged buyout.
By DailyNews Ug Sports
This Thursday promises to be a pivotal day in the modern history of Manchester United Football Club – and there won’t even be a ball kicked.
While Erik ten Hag and his players gear up for Saturday’s visit to Sheffield United – another fixture they simply cannot afford to slip up in – a board meeting will determine the future direction of the entire club.
The 12-strong board will decide whether or not to accept Sir Jim Ratcliffe’s £1.4billion offer for a quarter share in United – and control of football operations at Old Trafford.
That is highly unlikely to appease those United supporters who want shut of the Glazers but Ratcliffe’s involvement in the football side should give greater priority to success over profit.
The voting rules laid out in United’s ‘articles of association’ say only a majority of votes is required from the board to green light Ratcliffe’s investment.
