Sir Jim Ratcliffe given deadline extension as Manchester United deal gets closer

Sir Jim Ratcliffe’s tender offer for 25 per cent of the Class A shares traded on the New York Stock Exchange has been extended until midnight on Friday night.

The offer, which is part of Ratcliffe’s deal to become the minority owner of Manchester United, was originally due to expire at midnight on Tuesday.

It was announced on Christmas Eve that the Ineos chairman had agreed to buy a 25 per cent stake in the Premier League club in a deal that included investing $300million US dollars (€331million) into their infrastructure.

As well as buying Class B shares held by the Glazer family, the announcement confirmed that Ratcliffe would offer to acquire up to 25 per cent of all Class A shares at a price of 33 US dollars (£26) per share.

Ratcliffe has conducted a series of meetings with club staff and associates in recent days.

He has met leaders of the independent Manchester United Supporters’ Trust and spoken with local leaders, including senior representatives of Trafford Council, and Greater Manchester mayor Andy Burnham.

He was also among those in attendance at the Munich Air Disaster memorial last week.

Ratcliffe is reportedly already planning to lead an overhaul of United’s playing squad, starting with four new players to aid Erik ten Hag’s bid to ensure qualification for the Champions League.