Man Utd takeover: Bidder labelled ‘a stalking horse’ is ‘cautiously optimistic’ of winning race

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18 October 2024, 14:14 yayınlandı

Man Utd bidder Sheikh Jassim feels like INEOS and Sir Jim Ratcliffe are being used as “a stalking horse to try and drive up the price”, according to CBS Sports journalist Ben Jacobs.

The Red Devils are in the middle of a takeover process with INEOS founder Ratcliffe and Sheikh Jassim, the chairman of Qatar Islamic Bank and the son of a former Qatari prime minister, the two public bidders for the club.

It comes after the Glazers announced in November that they were exploring “strategic alternatives” to enhance the club’s growth, with a full sale one option being considered.

with his confidence in getting a deal over the line sparking Sheikh Jassim into action.

The Qatari launched a fourth bid directly to the Glazer family over a fortnight ago in an attempt to get ahead of Ratcliffe with a possible fifth bid also mooted over the last ten days.

A flexible offer from Ratcliffe gives him belief that the Glazers will find his offer the most attractive with Jacobs claiming the English businessman is “cautiously optimistic”.

Jacobs told Football FanCast: “INEOS and Sir Jim Ratcliffe have a flexible offer on the table, they’re prepared to get in control of the club and allow Joel and Avram Glazer to stay, but they’re also prepared to buy 69% of the football club.

“As a consequence of that and because their valuation is higher than the Nine Two Foundation, at around £6.5 billion, there’s less of a negotiation there and more questioning around technical points of that bid and INEOS remain cautiously optimistic.”

and Jacobs thinks Sheikh Jassim and the Nine Two Foundation will take confidence from that.

Jacobs added: “On the flip side, Nine Two Foundation take confidence from the fact that despite that cautious optimism, INEOS have not been placed in a period of exclusivity or given the title of the preferred bidder. What that means is the door is always open.

“I think the Nine Two Foundation feel like INEOS is almost a stalking horse to try and drive up the price, so if Qatar are to succeed, then they’re still likely to have to go higher, which would mean if we include the indicative offer, a fifth bid.”