Ineos Chairman Seeks 25% Ownership with Deadline Extended Amidst Overhaul Plans
Jim Ratcliffe’s tender offer to acquire 25% of the Class A shares traded on the New York Stock Exchange, as part of his deal to become a minority owner of Manchester United, has been extended until midnight on Friday night. The extension comes after the original deadline, set for midnight on Tuesday, was prolonged.
Ratcliffe’s bid to secure a quarter stake in the Premier League club was unveiled on Christmas Eve, following an agreement to invest $300 million US dollars (€331 million) into the club’s infrastructure. The offer also included acquiring Class B shares held by the Glazer family, along with the proposal to purchase up to 25% of all Class A shares at a price of 33 US dollars (£26) per share.
In recent days, Ratcliffe has been actively engaging with various stakeholders associated with Manchester United. He held meetings with club staff and associates and met with leaders of the independent Manchester United Supporters’ Trust. Additionally, he engaged in discussions with local leaders, including senior representatives of Trafford Council and Greater Manchester mayor Andy Burnham.
Ratcliffe’s commitment to the club’s heritage was demonstrated by his attendance at the Munich Air Disaster memorial last week, further emphasizing his dedication to Manchester United’s legacy.
Reportedly, Ratcliffe is already devising plans to lead an overhaul of United’s playing squad, with intentions to bolster the team with four new players. This move is aimed at supporting manager Erik ten Hag’s efforts to secure qualification for the UEFA Champions League.
As the deadline for Ratcliffe’s tender offer approaches, anticipation builds over the potential implications of his stake acquisition on the future direction of Manchester United, both on and off the field.
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