Man United Takeover: Ratcliffe Seals Deal; Sheikh Jassim Pulls Out

Sir Jim Ratcliffe, the billionaire owner of INEOS Group, has agreed a deal to buy a 25% stake in Manchester United from the Glazer family.

The deal, which is reportedly worth around £1.25 billion, is expected to be finalized in the coming weeks.

Long time club takeover top contender, Sheikh Jassim bin Hamad Al Thani who had been Ratcliffe's biggest rival in the takeover battle withdrew his £5billion bid.

[caption id="" align="aligncenter" width="634"] Sheikh Jassim's last huge offer to buy the club 100% was rejected by the Glazers. | Credit: GettyImages[/caption]

Ratcliffe's takeover; The Glazers' stand

While the Glazers will continue to have control at Old Trafford, Ratcliffe is likely to progressively acquire more of the Glazers' shares of the Red Devils. [caption id="" align="aligncenter" width="634"] The Glazers (Avram (left) and Joel (right)). | Credit: DailyMail[/caption] Ratcliffe, however, is gearing up for a takeover and has sped up his plans to renovate the stadium. Ratcliffe, who also owns French side Nice and Swiss Super League team FC Lausanne-Sport, has stated his proposal for 25% of United includes involvement in football choices.

Ratcliffe's key plans

[caption id="" align="aligncenter" width="593"] Sir Jim Ratcliffe | Credit: The Scottish Sun[/caption] Sir Jim has already mentioned some plans he'd like to prioritize since the agreed deal. Some of these are:

Stadium plans accelerated

Ratcliffe has made it a priority to speed up the renovation of Old Trafford. The Glazers had planned to increase the capacity of the stadium to 90,000, but construction on the project has been delayed. Ratcliffe has stated that he hopes to finish the stadium upgrade in three years. If required, he has even offered to put his personal money into the venture.

Glazer demand made

A report in the Daily Mail claims that the Glazers have made one demand to Ratcliffe as part of the takeover deal.

They apparently want Ratcliffe to commit to waiting at least five years before purchasing the remaining 75% of the club. The Glazers reportedly are not ready to sell their whole investment in the club at this moment, but they would be willing to sell more shares in the future.

Impact of the takeover for the club and its fans

Manchester United, who had been owned by the Glazer family since 2005, has entered a new chapter with Ratcliffe at the helm. The Glazers have been divisive club owners since many fans are dissatisfied with their financial management and the fact that they haven't put much money into the team. Global supporters hope that the new ownership would revitalize the team's on-field performances and place a greater emphasis on developing young players. While Ratcliffe has promised to pour a lot of money into Manchester United and bring it back to its former glory days, he has been a fan of the club all his life. He has also stated his desire to make Old Trafford more enjoyable for fans and to strengthen the team's competitiveness on the field.