Ineos wants control of Man Utd's football operations

6 months ago 83
Man Utd fans protest GlazersThe Ineos group hope if they control United's football operations, it will appease fans who dislike the Glazers

Sir Jim Ratcliffe's Ineos group wants to assume control of the football operations side of Manchester United's business from the Glazer family if a 25% offer worth an estimated £1.3bn is approved.

The British billionaire is thought to be increasingly confident of securing what he hopes will be the first stage of an eventual buyout.

The BBC was told that his principal rival - Qatari banker Sheikh Jassim bin Hamad Al Thani - had withdrawn from the process to buy United.

He failed to meet the Glazers' valuation with his 100% offer and grew frustrated with their demands.

Both groups had tabled bids of about £5bn.

It is not clear how an Ineos minority stake would be structured and if the Glazers would accept it.

The Glazer family, who bought United for £790m in 2005, announced in November 2022 they were considering selling.

United supporters have held demonstrations against the Glazer family inside and outside Old Trafford.

The club have lost six of their 11 games this season in all competitions and sit 10th in the Premier League.

Ineos are thought to hope if they were to be in charge of the football side of the club's business, it would help to defuse the anger of those supporters, and avoid a repeat of the anti-Glazer demonstrations seen in recent seasons if they remain as majority owners.

Ratcliffe visited Old Trafford in March alongside Ineos officials Sir Dave Brailsford, Rob Nevin and Jean Claude Blanc.

Ineos already own French Ligue 1 club Nice and Swiss club Lausanne.

Their sporting portfolio also includes high-profile sailing team Ineos Britannia - led by Sir Ben Ainslie - which is aiming to win the 2024 America's Cup for Great Britain.

Ineos also has a five-year partnership with Formula 1 team Mercedes and took over the British-based Team Sky in cycling in 2019.

Ratcliffe, who says he is a lifelong United fan, tried and failed to buy Chelsea last year.

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