Jim Ratcliffe had four offers rejected for Man Utd by Glazers as Sheikh Jassim details emerge

Manchester United's new minority owner Sir Jim Ratcliffe had four offers turned down in 2023 before the billionaire's bid in October was finally deemed acceptable by the Glazer family

Sir Jim Ratcliffe had four offers rejected by Manchester United’s owners in 2023.

The British billionaire’s stake in the Premier League club was finally confirmed on Christmas Eve (Sunday 24 December) after months of negotiations. The £1.25billion deal marked a breakthrough as the Glazer family relinquished a 25% stake in the club.

Ratcliffe will take charge of football operations at Old Trafford in March once the takeover is completed in full. And the INEOS chief will be relieved to have got it over the line, with news emerging that he had four separate bids turned down in 2023.

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The Glazers had first launched their search for “strategic alternatives” for United in November 2022, in other words putting the club up for sale. According to the BBC, Ratcliffe first made contact with the Raine Group, who were in charge of handling the sale process, on January 15, 2023.

The Brit’s first rejected offer was only for class B shares, which would have allowed him to take a controlling interest in the club. He was told the offer did not match the desire for a “full sale or minority primary investment”.

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Ratcliffe returned to the negotiation table with the Glazers on March 23, May 23 and at the end of July. Each of his offers were reportedly amended - and he was informed in the July discussions that he would have to offer the same figure to class A shareholders as the one being offered to class B shareholders, in addition to a “substantial primary investment”, for a deal to be accepted.

That led to the basis of the December 24 agreement - formally put forward on October 13 - being formed, which also included a request by Ratcliffe to have sporting control. Sheikh Jassim, the Qatari billionaire who had been in the running up to that point, withdrew his bid for 100% of Manchester United the following day on October 14.