Ratcliffe's right-hand man gives huge Man Utd takeover update in blow to Qatar

20 July 2023 , 14:18

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Ratcliffe's right-hand man gives huge Man Utd takeover update in blow to Qatar

Sir Dave Brailsford says Sir Jim Ratcliffe and his Ineos group are still "very keen" to buy Manchester United, despite the delay to the Glazers' sale process.

The Glazers announced their intentions to "explore strategic alternatives" for United on November 22 and the saga has now stretched into its 240th day. Ratcliffe is up against Qatari banker Sheikh Jassim, with both parties still confident of striking a deal for United.

Best known for his lead role with British Cycling and Team Sky, Brailsford is now director of sport with Ineos, who already own French side Nice.

Speaking to ITV Sport at the Tour de France, he said: “Obviously we've been involved and it's something that we're very keen to do. It's not something we can discuss in detail, we've got to sign up to NDAs (non-disclosure agreements) and all the rest of it.

“But it's an ongoing process and we'd very much like to do it. To be custodians of one of the biggest sporting teams, brands, in the world and trying to really support the team and go back to the success they deserve.

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“And also the fanbase. I've worked in Manchester for a long time, we saw the team become a global phenomenon, Team Sky have done the same. I know Manchester really well so you get a sense of what the club is all about and what the fans want. If we're part of the process, we hope to do that.”

British billionaire Ratcliffe, who made his money through petrochemicals, is bidding to buy United a year after failing in an attempt to take control of Chelsea.

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His offer is understood to value United at between £5-£5.5billion, which is well short of the Glazers’ £6bn valuation. The Ineos owner is willing to let Avram and Joel Glazer keep some shares and remain involved in the club.

The Glazers have been silent on the takeover process for months, with Raine Group - the US merchant bank overseeing the bidding - insisting Ratcliffe and Sheikh Jassim sign non-disclosure agreements.

The continued delay to any decision has left some fans to speculate that the Glazers may pull out of the process and keep the club they bought through a debt-leveraged takeover in 2005.

That theory has been given backing by the original statement from the Glazers in November. It read: "There can be no assurance that the review being undertaken will result in any transaction involving the Company."

Sheikh Jassim is bidding to buy 100 per cent of United's shares in a transaction which would see the Glazer family leave the club. After widespread confusion around several rounds of bidding, which was defined by a briefing to the media, the process has settled into a prolonged silence.

Felix Keith