AFP – Jim Ratcliffe warned Manchester United he would have ended his bid to become a minority owner if it was not sealed before December 25, 2023, according to financial documents released by the club on Wednesday.
British billionaire Ratcliffe agreed to buy a 25 per cent stake in the Premier League club for around GBP1.02 billion (USD1.3 billion).
But US Securities and Exchange Commission (SEC) filings released on Wednesday have revealed the INEOS chairman’s patience had begun to wear thin shortly before an agreement was struck.
In the week before the holiday, Ratcliffe’s company Trawlers Limited “gave Manchester United a deadline of December 25, 2023 to accept its best and final proposal”.
It led to an informal meeting of the board of directors on December 22 and a “robust discussion regarding the feedback from the offeror”.
The board representatives noted Ratcliffe “could decide to withdraw (the) proposal if the board of directors was not prepared to move forward by December 25, 2023”.
