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Ineos ‘optimistic’ over Man United purchase after increased contact with Raine Group
Ineos ‘optimistic’ over Man United purchase after increased contact with Raine Group
Sir Jim Ratcliffe has had more extensive contact with Raine Group over the past two weeks than Qatar, creating a positivity within the INEOS bid that they can be the next owners of Manchester United, although it has not yet been communicated who the preferred bidder is. That does leave the way open for a huge Qatar offer that many have long been waiting for, but it would have to be a significant increase on their third-round bid of under £5bn. They would also have to be quick, as it is now expected that an announcement on preferred bidder could come next week. While the nature of this process ultimately comes down to the numbers, there was irritation on the selling side at some of the briefing around the third Sheikh Jassim-led bid, given it was considerably lower than had been anticipated. The Independent has also been told that the Glazers have been giving consideration to the fact any Qatar offer could take six to nine months longer, due to the likelihood that the assessment by the Owners and Directors test would be far longer. The bid comes as the Premier League have sought to tighten regulations on state-linked owners, amid increasing pressure over the subject. The Glazers are also conscious of the fact that, if that happens, and the Qatar deal were to falter, Ratcliffe would be unlikely to come in on a point of principle. As the INEOS group have long pointed out, their offer can lead to a cleaner process. Ratcliffe's group are “optimistic” that, if the takeover process continues smoothly, they would at least have an agreement to buy the club by the summer transfer window. That could leave Erik ten Hag frustrated as regards transfers for next season, given the club would be restricted in what it could do, but with the offset that the future would be much clearer thereafter. Either way, the Glazers' bankers are currently willing to discuss final details with Ratcliffe. The only development that could currently change that is if Qatar come back in with a huge offer, and there is insistence from within the Gulf state they are still in the race. At the same time, discussions with Raine have been minimal, with one source even stating that it was as close as you can get to being “ghosted” in such processes. The prospective takeover of United has been discussed at the top levels of the state, but a number of political issues have complicated the planned purchase, not least the willingness to not be seen to just pay whatever it takes. From the start, Qatar have been insistent they will only buy for the right price. It remains to be seen whether that valuation changes as the possibility of failure looms. Read More What would a Sir Jim Ratcliffe takeover mean for Manchester United Erik ten Hag unsure what funds will be available to strengthen Man Utd’s squad Man Utd fans stage protest against Glazers before and during Aston Villa match
2023-05-13 16:19
JCPenney Builds Momentum with Multi-Year, Self-Funded $1 Billion Reinvestment Plan and Commitment to Make Every Day and Dollar Count for Families Across America
JCPenney Builds Momentum with Multi-Year, Self-Funded $1 Billion Reinvestment Plan and Commitment to Make Every Day and Dollar Count for Families Across America
PLANO, Texas--(BUSINESS WIRE)--Aug 31, 2023--
2023-08-31 20:50
Brazil's Congress weakens pro-environment ministries in a rejection of Lula
Brazil's Congress weakens pro-environment ministries in a rejection of Lula
In a rejection of early moves by President Luiz Inácio Lula da Silva who took office in January, Brazil’s Congress has stripped powers from the new Ministry of Indigenous Peoples and Ministry of the Environment and Climate Change, both led by women environmentalists
2023-06-02 03:24
Elegant Hotel Collection Launches
Elegant Hotel Collection Launches
LONDON--(BUSINESS WIRE)--Oct 17, 2023--
2023-10-17 15:18
Italy plans state-backed fund to promote AI startups
Italy plans state-backed fund to promote AI startups
ROME Italy's government plans to set up an investment fund backed by state lender Cassa Depositi e Prestiti
2023-05-30 20:28
Former US prison employee to admit to accepting payments from Rajaratnam -source
Former US prison employee to admit to accepting payments from Rajaratnam -source
By Nate Raymond BOSTON A former employee of a federal prison in Massachusetts has agreed to plead guilty
2023-07-25 07:57
Asia Natural Gas Buyers Hold Back Purchases After War Risk Boosts Prices
Asia Natural Gas Buyers Hold Back Purchases After War Risk Boosts Prices
Liquefied natural gas buyers in North Asia are pausing plans to procure additional fuel for winter after the
2023-10-13 16:56
Closure of 3 Southern California power plants likely to be postponed, state energy officials decide
Closure of 3 Southern California power plants likely to be postponed, state energy officials decide
California energy officials have voted Wednesday to extend the life of three natural gas power plants along the state's southern coast
2023-08-10 07:26
UK summit aims to tackle thorny issues around cutting-edge AI risks
UK summit aims to tackle thorny issues around cutting-edge AI risks
Digital officials, tech company bosses and researchers are converging on a historic estate near London to discuss what to do about extreme risks posed by cutting-edge artificial intelligence
2023-11-01 16:17
Fed seen keeping rates on hold well into next year
Fed seen keeping rates on hold well into next year
Cooling inflation will likely keep the Federal Reserve on pause in coming months, traders bet on Friday, even as persistent
2023-10-27 21:46
China economic data likely to show recovery is fading quickly
China economic data likely to show recovery is fading quickly
BEIJING A flurry of economic data from China on Monday is expected to show its post-pandemic bounce is
2023-07-16 08:47
Chinese bank shares fall on existing mortgages rate cut concerns
Chinese bank shares fall on existing mortgages rate cut concerns
BEIJING Shares in China's banking sector dropped on Wednesday on worries that a reduction in existing mortgage rates
2023-08-30 10:57