INEOS billionaire Sir Jim Ratcliffe has proposed a bid that will retain the Glazers as stakeholders of Manchester United.
The Peoples Person covered a report earlier this month which detailed that suitors keen to bid for the club have been given until the end of this month to table their revised and final bids to purchase the club.
These proposals are expected to be submitted by April 28, two days from now.
Both Sir Jim and his main competitor Sheikh Jassim Bin Hamad Al Thani are in the running and are expected to submit their bids before the deadline elapses.
The Daily Mail’s Mike Keegan reports that while Sheikh Jassim is still keen to complete a full takeover and purchase the club in its entirety, Ratcliffe now wants an arrangement which would see the Glazers retain a minority share.
Keegan details, “Sir Jim Ratcliffe is offering a deal for Manchester United that would enable Joel and Avram Glazer to remain stakeholders in the club, Mail Sport understands.”
“In what would be a highly controversial act likely to infuriate large sections of United’s support, one of the options on the table for the American owners would see Ratcliffe take a controlling stake of more than 50 per cent, with the two Glazers retaining a combined 20 per cent.”
“Should the proposal get the nod it would mean that a connection with the family, whose leveraged buyout in 2005 plunged United into hundreds of millions of debt, continues.”
Keegan adds that there is a perception within those charged with overseeing the takeover that the Glazers view this as an attractive option.
“Those close to the process, which is being run by US merchant bank Raine Group, say the prospect may well prove to be the preferred option with the two Glazer brothers – the members of the family most-heavily involved in the running of the club – given an opportunity to stay.”
Portions of United owned by other minority investment groups and personalities would remain intact.
Ratcliffe’s bid, it is thought, would contain the promise of undertaking a re-development of Old Trafford which is in dire need of a massive revamp at the very least.
Keegan insists that Sheikh Jassim has the deepest pockets of any United bidder and his remains the “cleaner” transaction in comparison to Ratcliffe’s offer.
After the deadline expires on Friday, Raine Group will assess offers before choosing a preferred buyer.
The aim of the Glazers is to have a new custodian in place just before the summer transfer window.
The new owner will be afforded the opportunity to dip into the market and back Erik ten Hag with substantial funds to bolster the squad.