A renowned British investor Sir Jim Ratcliffe is set to buy a stake at Manchester United amidst a brewing uproar and call for the Glazers to hands-off the club.
Manchester United has found itself caught up in a puddle of crisis as the 2022-23 Premier League begin. A waterloo of dismal Premier League start has created a bust-up with the fed-up fans.
Missiles of tirades directed at the intransigent Glazers have been fired. A planned boycott of Manchester United matches is on the way, with the next fixture against Liverpool targeted. It appears the unpopular American investors have been hit at the right spot as they announced a decision to hand off a minor percentage of Man United Shares.
Padding a deepening crisis
The Glazers are losing their credibility with the Man United fan base. Handing off a few stakes at the club is like wrapping a sore with dirty linen. It may not go down well with irate Man United fans, who want a hands-off, but Sir John Ratcliffe is in. He is ready to take a share of the club as the Glazers officially announced that they are prepared for bids for a stake in Manchester.
Manchester’s share value rose by 7% to close at $13 69 on the New York Stock Exchange after it was widely speculated that the Glazers were ready to sell stakes of the club.
Meanwhile, some reports have emerged that the Glazers are currently in negotiation with Apollo, an American private equity firm, to sell shares of the club. It has also been revealed that Joel and Avram a member of the Glazers will retain their stakes and continue at the club. The Glazers are only selling a minority stake and may also welcome other investors apart from Apollo.
Sir Jim Ratcliff wants to buy a stake at Manchester United
As per Fabrizio Romano, Ratcliffe’s spokesperson has reiterated the desire of Ratcliff to buy Man United if the club is up for sale while speaking with DickinsonTimes.
“If the club is for sale, Jim is a potential buyer,” Ratcliffe’s spokesman said. He also outlined Ratcliffe’s intention for a long-term owner of the club.
“If it was to be possible, it will interest in talking with a view to long-term ownership.”
Who Is Jim Ratcliffe?
Jim Ratcliffe is a well-known 69-year-old British investor with investments worth billions of dollars. He is the CEO of Oneus Chemicals, with an interest in football.
Ratcliff has been said to be a long-time admirer of Manchester United and has intended to venture into investments in football. Before the emergence of Todd Boehly as the new Chelsea owner, Ratcliffe had bid to take over the club from Roman Abramovich but was not favored.
Ratcliffe is a clear favorite to own a share of Manchester United, given his popularity with English football fans. But the Glazers are not keen on a total hands-off. They are only selling a stake in the club. Although their seventeen years of dominance at Old Trafford will be reduced, they will still influence decisions and shape policies at the club.