A British billionaire is reportedly on the verge of acquiring a significant stake in Manchester United after Qatari businessman Sheikh Jassim withdrew his £5 billion (R115 billion) takeover bid.
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Reports on the weekend suggest that INEOS founder and CEO Sir Jim Ratcliffe is set to acquire a 25% stake in the 20-time English champions, with the Glazer family expected to remain in charge for now.
However, it is thought that 70-year-old Ratcliffe will eventually buy up more of the Glazers' stake and become the club's majority owner.
This news comes amid Jassim's decision to walk away from his ambition of completing a full purchase of last season's Carabao Cup winners, after initially planning to wipe out all of the club's debt.
According to the Daily Mirror, Ratcliffe is hoping to accelerate plans for a stadium upgrade, with the Glazers having been strongly criticised for their lack of investment in the Red Devils since their takeover in 2005.
Other reports state that Ratcliffe, who also owns French side Nice, will become heavily involved in internal matters, such as overhauling Erik ten Hag's first-team squad.
Furthermore, it is claimed that, while some members of the Glazer family are happy to sell their shares, others are not ready to leave the club at this point.
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This is reportedly the reason for Ratcliffe initially moving to acquire a quarter of the underperforming English side, with some fans understood to be frustrated that it will not be Jassim taking total control.
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