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By Tom Morgan and James Ducker
Sir Jim Ratcliffe’s long-awaited 25 per cent purchase of Manchester United will be confirmed this afternoon after a 13-month takeover saga, with the Ineos owner paying an estimated £1.25 billion – the most expensive ever minority investment in a sports club.
Telegraph Sport first disclosed on November 23 last year how Ratcliffe, one of Britain’s richest men, would bid after the club was formally put on the market a day earlier.
Now, after months of delays and fraught negotiations, the Ineos owner is finally being handed the keys to Old Trafford on Christmas Eve as minority co-owner with sporting control.
The Glazers have been majority shareholders of United since 2005 but it now remains to be seen whether co-chairmen Joel and Avram take more of a backseat or seek to work closely with Ratcliffe going forward.
Subject to Premier League approval, which is expected to take around six to eight weeks, the Glazers have agreed a $33-a-share deal that sees the petrochemicals tycoon acquire 25 per cent.
That represents a premium of around 75 per cent on the club’s recent values of around just over £2.5bn.
The Glazers are set to pocket around £650 million as Ineos acquire an equal split of both A and B shares, the latter of which carry greater voting rights and have been held exclusively by the American family. United fans – who have long protested for the removal of the Glazers – are likely to react angrily to the prospect of the family landing another huge cash windfall.
The club have suffered a turbulent time on the pitch this season, having lost a total of 13 games in all competitions. Erik ten Hag’s men sit a lowly eighth in the Premier League after a 2-0 defeat away to West Ham on Saturday, 12 points off leaders Arsenal.
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