Manchester United will have an equity value of £4.4 billion after Sir Jim Ratcliffe secures his minority stake from the Glazer family.
Back in November last year, the Glazers confirmed that they were exploring strategic alternatives for United and opened the possibility of selling the club.
Ratcliffe and Sheikh Jassim became the clear front-runners for a takeover in the months ahead, but the latter pulled out of the race earlier this campaign.
The Glazers were not convinced by the proposal on the table. Ratcliffe is now expected to secure a 25 per cent stake out of the 69 per cent shares owned by them.
Ratcliffe has offered $33 (£26.5) per share which represents a 79 per cent premium to the stock’s closing price in the New York Stock Exchange on Thursday.
United will get an equity value of £4.4bn with Ratcliffe’s bid.
The British billionaire is now looking for the green light from the minority shareholders and hopes to get a deal over the line before Thursday’s Thanksgiving holiday in the US.
The Red Devils will be valued at over £5bn including debt after Ratcliffe’s stake is confirmed.
Ratcliffe’s minority stake set to end long saga
Several United fans were delighted when the Glazers opened the prospect of leaving the club last year.
However, no one would have expected the situation to drag for a year. After months of speculation, Ratcliffe is now on the verge of securing a 25 per cent stake.
While Ratcliffe won’t become the majority shareholder, he is set to gain control of the footballing operations of the club as part of the agreement with the Glazers.
Joel Glazer will be part of a three-member football committee alongside Ratcliffe and Sir Dave Brailsford, but the latter two will make the final decision on sporting matters.
This is a big positive for the club and supporters. Ratcliffe is also prepared to back manager Erik ten Hag with a transfer war chest in January in order to reinforce the squad.