October 19, (THEWILL) – Manchester United have agreed a deal that will see billionaire, Sir Jim Ratcliffe, acquire a minority stake in the club and join a new leadership committee. The deal comes after Qatari banker, Sheikh Jassim, withdrew his £5 billion takeover bid, allowing Ratcliffe to reach an agreement with the Glazer family to buy a smaller share of the club.
The Glazers will remain in charge for now, but Ratcliffe’s longer-term plan is believed to be a full takeover in the future. His staggered approach is said to value United higher than the £5 billion offer from Sheikh Jassim, which fell short of the Glazers’ valuation of the club, thought to be between £6 billion and £10 billion.
The new committee will comprise Ratcliffe, cycling guru, Sir Dave Brailsford and Joel Glazer. It will sit above CEO Richard Arnold and oversee changes at United as Ratcliffe’s input increases, though the arrangement is not expected to be overly formal. The committee could expand or be disbanded later depending on progress.
Ratcliffe, Britain’s richest man, is a lifelong United fan, while Brailsford has been director of sport for Ratcliffe’s firm INEOS since 2021. He is best known for overseeing British cycling’s success at recent Olympics. Joel Glazer currently has the most hands-on involvement among the co-chairmen.
The move follows reports that Ratcliffe could utilise expertise from INEOS’ partnerships with the Mercedes F1 team and noted talent scout Paul Mitchell as he looks to enhance United’s sporting structure.
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Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
