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Manchester United and Sir Jim Ratcliffe have reportedly agreed to approve the British businessman’s partial 25% stake in the club early next week.
Ever since news broke that the Glazer family had accepted Ratcliffe’s proposal for a minority stake, there had been much speculation about when a formal announcement would be made.
There were hopes that the deal would be approved during the November international break, but this did not materialize.
A recent report in People’s Person said Mr Ratcliffe was likely to arrive before Christmas.
sky sports has now corroborated this information and indicated that an announcement could be made as early as next week barring further delays.
Mr Ratcliffe’s proposal is thought to see the INEOS billionaire put in charge of United’s sports business. This comes at a time when the Red Devils are currently on the verge of being knocked out of the Champions League and the team is struggling in Europe.
The 20-time English champion is not doing any better in the Premier League and the pressure is mounting on Erik ten Hag after another dismal performance in Saturday’s 1-0 loss to Newcastle. There is.
Sky Sports’ Mark Kleinman said: “Manchester United Football Club and petrochemical billionaire Sir Jim Ratcliffe have agreed a £1.25bn deal for a 25% stake in the Red Devils in the coming days. We aim to make an announcement within the next few days.”
“Sky News understands that the two sides have reached an agreement to confirm the long-awaited deal early next week, which includes Sir Jim’s Ineos Sport taking two seats on Old Trafford’s board. It is planned to be occupied.”
“Sources say the schedule could shift again, but both United and Ineos plan to make an announcement early next week.”
Kleinman added that neither Ratcliffe nor his confidant Sir Dave Brailsford will be joining United’s public company board.
As part of the deal, the Glazers will also sell 25% of their B shares to Ratcliffe, which will naturally give them greater voting rights.