Sir Jim Ratcliffe’s takeover bid has reportedly been delayed once again. The Glazers and the Manchester United board still have some details to iron out before his offer is put to a vote. A board meeting was expected to take place on Thursday to decide on whether to accept Ratcliffe’s proposal for a 25 per cent stake in the club.
However, according to the Daily Telegraph, That bid is understood to have been pushed back as discussions continue behind the scenes. Ratcliffe is bidding to take control of the football side of the business at United and wants to bring in his own people from INEOS on board to ensure the ship sails smoothly.
This could lead to Chief Executive Richard Arnold and Director of Football John Murtough being ousted from their roles. Arnold will have some say on the proposal as he is among the 12 board members that will vote on Ratcliffe’s bid but it is unlikely his decision will make much of a difference on the overall result as despite owning a 69 per cent share of the club, the Glazer family hold 96 per cent of the voting rights.
The Glazers put United up for sale on November 22 last year and the process has dragged on ever since. Ratcliffe became the frontrunner in the bidding war after his closest rival Sheikh Jassim pulled out of the race last week due to a gap in the valuation of the club with the Glazers.
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