On December 24, local time, Manchester United issued an official announcement, confirming Sir Ratcliffe's acquisition of 25% of the club's shares. According to previous reports, Sir Ratcliffe's purchase price is around £1.3 billion (about 15.).$7.9 billion), he will gain control of Manchester United's football affairs.
In November last year, Manchester United issued an official statement confirming that it would embark on a process of "exploring strategic options for the development of the club". This means that Manchester United has been listed and the Glazer family is looking for a range of possibilities, including a transfer**.
The first to take the lead in the takeover was the Qatari consortium, which in February this year officially submitted its ** to complete the acquisition of Manchester United. According to reports at the time, the Glazer family valued Manchester United at no less than £6 billion. Ratcliffe also filed in the same month**.
A protracted battle over the transfer of United's shares ensued, with the first reports that the Glazer family wanted to complete the deal by the end of April this year, but the deal has since been repeatedly postponed. The Qatari consortium and Ratcliffe's ** have never been accepted by the Glazer family.
In June, the situation appeared to be changing, with the Qatari consortium holding exclusive talks with Manchester United to raise the bid, but there has been no substantial progress in the negotiations between the two sides since then.
Heading into October, Ratcliffe reversed course and changed his strategy to buy only a 25% stake in Manchester United. In mid-October, a number of reports reported that the Qatari consortium's offer was rejected by Manchester United, the Qatari consortium withdrew from the talks, and Ratcliffe's takeover plan was approved by Manchester United.
Timeline of Manchester United's shareholding change:
November 22 2022: The Glazer family confirmed that they are open to **, but also said they would consider other options including "new investments".
17 February 2023: Sir Ratcliffe and Qatari Jassim have launched a bid for Manchester United, who wants to buy 100% of the club.
February 18, 2023: US hedge ** Elliott makes a proposal to invest in Manchester United.
February 28, 2023: Differences within the Glazer family over ** due to the unmet valuation of the Glazer family.
March 5, 2023: Jassim, Ratcliffe, and an anonymous bidder enter the second stage of the auction.
10 March 2023: Elliott enters the second phase of Manchester United's process.
16 & 17 March 2023: Qatar Group and Sir Ratcliffe met with Rennes Group at Old Trafford and obtained detailed financial information. Jassim himself was not in attendance.
March 22 2023: At the behest of Jassim and Ratcliffe, Rennes Group has extended the deadline for a second bid. Elliott** proposed to acquire a minority stake before the deadline.
March 23, 2023: Ratcliffe's second bid.
March 24, 2023: Jassim makes his second bid.
April 11 2023: The Glazer family advanced the ** process to the third round, asking interested parties to submit a final ** by the end of April.
April 28, 2023: Jassim 'sets a world record' for Manchester United'. Ratcliffe also presented his own ** before the deadline.
16 May 2023: Jassim's fourth bid, allegedly close to £5bn. Ratcliffe's offer values Manchester United higher, but not for the club as a whole, and Glazer has the opportunity to retain at least 20 per cent of the shares.
June 7, 2023: Jassim submits his fifth improved bid.
14 October 2023: Jassim exits the bidding process as Ratcliffe comes close to acquiring a 25% stake in Manchester United.
November-December 2023: A number of ** reports have repeatedly reported that Ratcliffe's acquisition of Manchester United shares is close to an official announcement, but the official announcement has not arrived for a long time.
24 December 2023: Manchester United have issued an official announcement confirming Sir Ratcliffe's acquisition of a 25% stake in the club.