Energy giant started the process of buying Manchester United

Energy giant started the process of buying Manchester United

“We have formally entered the process” with the investment bank Raines, commissioned by the current owners of the ‘Red Devils’, the Glazer family, to manage the sale of the club, a spokesman for the group told the BBC.

This is the first stage of a long process. From now on, the different parties will enter a phase of confidential negotiations and account examinations, before official purchase offers can be presented in a month.

The transaction could be completed before the end of this season.

In mid-August last, a spokesman for Jim Ratcliffeowner of the energy group Ineos, had already shown the interest of the richest person in the United Kingdom in buying United if the English club was put up for sale.

The Glazer family took control of the club in 2005 but have since been frequently criticized, accused by fans of taking advantage of the club rather than investing in players or Old Trafford’s renovation.

The Glazers supported the failed attempt to create a closed European Super League.

United have not won the Premier League title since 2013 and have not lifted a major cup since 2017.

Ratcliffe, declared a follower of Manchester United, failed to buy Chelsea in May, defeated by the project led by American businessman Todd Boehly.

Ineos is already the owner of two European clubs, the French Ligue 1 Nice and the Swiss Lausanne, in addition to the cycling team in which the Colombian Egan Bernal runs and is also one of the sponsors and shareholders of the Formula 1 Mercedes.

Source: Ambito

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