Ten Hag details meeting with Ratcliffe amid Man Utd bid
Sir Jim Ratcliffe and INEOS will try and get approval from the Manchester United board as they look to buy the club, it has been claimed. The 70-year-old appears to be losing ground as he looks to purchase the Red Devils. Sheikh Jassim seems to be the frontrunner, while there’s still the possibility of the Glazers staying.
Earlier in the week it was claimed Ratcliffe was lagging behind Sheikh Jassim as he looks to buy a Premier League team at the second time of asking.
The INEOS chief has submitted three offers for the club so far, with his rival lodging five bids.
And journalist Ben Jacobs, speaking to GiveMeSport, has claimed Ratcliffe remains in the hunt and will try and get approval from the United board.
“At the moment, nothing is progressing on the INEOS side even though it hasn’t been communicated to them that they’re formally out of the race,” he told the publication.
“In fact, quite the opposite. Many insiders are adamant that they’re still there.
Man Utd takeover: Sir Jim Ratcliffe is still in the race to buy the club (Image: GETTY)
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“So, this would also suggest that Qatar can be somewhat more positive, but also sceptical because they’re in the dark as to the Glazers' intentions.
“So, from Qatar’s perspective, they either think they’re going to win or it will be a no sale and from Ratcliffe’s perspective, the group are going to have to work out how they can get Board approval, if they are to proceed.
“Otherwise, they could be out the race."
Ratcliffe is, however, facing some issues with his bid to buy the club.
Minority shareholders are, according to Business journalist David Hellier, worried about being cut out of a deal.
Hellier said earlier this week: “The minority holders are slightly aggressive funds, mainly in the US there are some in the UK.
“I was told they’ve made it 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, we end up with discounted shares while the Glazers get everything. We will sue’.
“I was then being told by the Man United side that they have three independent directors.
“And those directors would never, ever sanction or recommend that bid under these circumstances with this threat.”
Ratcliffe has also opened up on the Glazers in a new book serialised by The Times.