REVEALED: The reason why Sir Jim Ratcliffe’s bid for Man United is “dead in the water”

It has been revealed that the reason why Sir Jim Ratcliffe’s bid for Manchester United is “dead” is because his offer does not benefit any other shareholders other than the Glazer family.

The Manchester United sale saga is one that is now beginning to drag into its ninth month after the Glazer family announced that they were going to  “explore strategic alternatives”, including a potential takeover, at the club back in November last year.

It is a saga that has affected Erik ten Hag greatly, with the Dutchman unable to understand his available funds to pursue top targets such as Harry Kane and Mason Mount.

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There have been two main bidders for the club since – British billionaire Sir Jim Ratcliffe, and Qatari businessman Sheikh Jassim. The pair have tabled a total of nine bids for the club, and the Glazer family are yet to pick their preferred bid.

However, it has now been revealed that Sir Jim Ratcliffe’s bid is “dead in the water”.

Speaking to United View, Bloomberg reporter David Hellier has explained the situation surrounding Sir Jim Ratcliffe’s bid.

“I was picking up from advisers to Man United that his bid as it stands is dead in the water – I mean absolute dead water,” Hellier explained.

“The reason for that is that he is proposing a structure which would buy out the Glazers, as you know, the majority shareholders, and not offer anything to the minority holders.

“Now, the minority holders are slightly aggressive funds in mainly the USA but also some in the UK, and I was told that they have made it absolutely clear to the Manchester United board via a letter that was sent: ‘If you recommend this offer which prejudices us, gives us no offer at all, that we end up with discounted shares while the Glazers get everything, we will sue’.

“I was then being told by the Man United side that the three independent directors (of the club) will never ever sanction or recommend that bid under these circumstances with this threat.

“So either sort out the threat, restructure the bid, or talk to the shareholders and get them to say what they want and how they can get around it or it’s finished. So essentially, I was told by the sources that Ratcliffe’s bid is dead. So we’ve only got one proper bidder, which is the Qatari bid.”