Sir Jim Ratcliffe is reportedly ready to abandon the deal to buy stakes at Manchester United if the Glazers are not ready to attune to his specific demands, MySportDab reports.
A £1.4bn offer for 25% stake at Manchester United is on the table from the INEOS Billionaire but the Independent says it is not yet a done deal as both parties still have tiny details of the deal to settle.
According to Independent, as part of his conditions of purchasing the 25% stake at the club, Sir Jim Ratcliffe wants the Glazers to assure him that he will subsequently be allowed to fully take over the club in the nearest future before he proceeds with the deal.
The British petrochemical guru is reportedly ready to back off from the deal if the Glazers are not ready to agree to the full take over clause.
The report adds negotiations to the pathway to a guaranteed full ownership by Sir Jim that is holding the talks between the two parties.
However, progress have been made so far after initial glitches but some crucial pain points still have to be crossed.
Sir Jim Ratcliffe overtook his rival Sheikh Jassim in the race to Manchester United ownership after he made three alterations to his bid to win over the Glazers.
Sir Jim previously wanted a 61% ownership before reducing it to 51% and then down to 25%.
From the foregoing, it was pretty evident the Glazers were not ready to relinquish their ownership and an overbloated £6bn valuation was a perfect ploy to freeze off Sheikh Jassim and bring on Sir Jim on board.
At this point, it is believed the Glazers will not easily pander to Sir Jim’s full takeover clause. However, they are in dire need of the funds to revamp United’s sporting and football operations.
It is still unclear whether they will finally settle with the full takeover clause prioritized by Sir Jim but negotiations are still on with the 72-year-old ready to back off if a deal in unfeasible.