Sir Jim Ratcliffe ‘would demand FULL control over transfers once a deal is made to buy Manchester United’
- Sir Jim Ratcliffe is one of two bidders believed to be leading the race to buy the club
- Ineos billionaire reportedly wanted control over the transfers once the deal is closed
- Third bids for the club were submitted last week pending responses
Potential Manchester United owner Sir Jim Ratcliffe has demanded full control of the transfers once his offer is accepted.
The Ineos billionaire is one of two parties, alongside Qatari Sheikh Jassim bin Hamad Al Thani, who are believed to be leading the bidding process as the Glazer family contemplates selling United after 18 years of highly controversial ownership.
According to The TelegraphRatcliffe’s bid for the club includes a demand that he be given the reins of recruitment once his bid to buy the club is given the go-ahead.
Both parties, it is alleged, have made requests to influence the moment their respective bids are accepted, with Sheikh Jassim reportedly wanting even greater scrutiny of the club. It is alleged that such requests are an indication that the process is expected to drag on into the summer, and perhaps beyond.
The report states that such requests are unlikely to be granted, as the Glazers will likely remain in control until the dotted line is signed and the ink is dry.
Sir Jim Ratcliffe has reportedly demanded full control of transfers at the moment his bid is accepted, should it be accepted, it has been reported
It is said that the Glazers would retain a stake in the club and a seat on the Red Devils board under Ratcliffe’s bid (Photo: Avram Glazer, left, Joel Glazer, right)
It is said that such requests could pose broader legal and logistical issues beyond the commercial complications the Glazers may face if a request is granted.
Comparing the situation to that of a major company takeover, the report points out that approval rights are often requested to ensure that accounts are not depleted before ownership changes.
Third and final bids were submitted last week, with Ratcliffe believed to value the club higher than Sheikh Jassim, who had emerged as the favorite in the race for much of the process.
Ratcliffe’s offer, in its current form, would see the Glazer brothers, Joel and Avram, remain stakeholders in the club.
Those close to the trial, which is being led by US investment bank Raine Group, say the prospect could prove to be the preferred option for the two Glazer brothers – the members of the family most heavily involved in running of the club – get the chance to stay.
It is thought that the last portion currently held by various investment groups will also remain in place.
In a long and drawn-out process in which Ratcliffe and Sheikh Jassim have submitted three bids, it has become increasingly uncertain whether the American family will sell the club.
Widespread protests were seen ahead of United’s 1-0 victory over Aston Villa at Old Trafford on Sunday, as banners calling for the Glazers to sell the club were prevalent at every game this season, though understandably more common after the statement from last season. November stating that a sale of the club was being investigated.
United fans have demanded a full sale of the club as they continue to protest against the Glazers
The deadline for bids to close was on Friday and Qatari Sheikh Jassim bin Hamad Al Than presented a bid for full control of the club.
Gary Neville, an outspoken former player, described the process as “sloppy” last month.
He tweeted, “They are making it up as they go! Bad way to run a sales process.
“They need to leave at the end of May to give the new owner a chance to influence the next transfer window and get started!”
Neville continued, “Taking it to a 3rd round of bidding is just classless. The market has clearly not given them the answer they want!
‘It’s like they’ve made a pact with each other that they won’t leave for less than £1 billion per family member. (5 of them). If they stay inside after all this, it will be poisonous!’