Manchester United Attracts Record Takeover Bid From British Billionaire Jim Ratcliffe

  • British billionaire Sir Jim Ratcliffe's bid could value England's Manchester United Ltd MANU Manchester United Football Club at a record of over £5 billion.
  • Ratcliffe, the founder of the Ineos chemicals empire, is contending against Qatari businessman Sheikh Jassim bin Hamad al-Thani for the takeover, Financial Times reports citing familiar sources.
  • Both bidders will likely submit their proposals to the Glazer family, which controls the club, ahead of a 9 pm U.K. deadline on Wednesday.
  • The value of Ratcliffe's bid includes debt. 
  • Ratcliffe already owns a series of sports assets, including French football club OGC Nice, a third of the Mercedes Formula 1 team, and the Grenadiers cycling team.
  • The Glazer family purchased United in 2005 in a £790 million leveraged buyout led by the late Malcolm Glazer.
  • In 2021, Glazers said they would consider selling United as part of a strategic review involving raising capital or finding partners to invest in Old Trafford after Chelsea Football Club buyout for £2.5 billion.
  • Several investment firms are keen on bagging a minority stake in Manchester United.
  • Manchester United, behind legends like Cristiano Ronaldo, bagged the third position in the English Premier League.
  • Manchester United has a market capitalization of $4.2 billion and a debt of about $700 million.
  • Price Action: MANU shares traded lower by 2.11% at $25.08 premarket on the last check Thursday.

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