Manchester United's American owners, the Glazer family, are set to finalise a $33 per share deal with Jim Ratcliffe that will see the British billionaire acquire a 25% stake in the English soccer club, Sky News reported on Friday.
The deal, which could be confirmed later on Friday, will bring to an end a year-long sale process. The Glazer family announced last November that they were exploring "strategic alternatives" for the club, including a possible sale and were open to fresh investment.
Ratcliffe's offer represents a premium of 79.1% to the stock's Thursday closing price of $18.43, valuing the Old Trafford club at about $5.4 billion excluding debt.
While the deal will not see the back of the Glazers, who are deeply unpopular with the fans of the 20-times English soccer champions, it will result in major changes to the way the club is run.
Ratcliffe wants to overhaul the club's football operations. It has underperformed on the pitch since former manager Sir Alex Ferguson retired in 2013 following a period of unprecedented success for the club.
Ratcliffe has promised sweeping changes. The club announced on Wednesday that Chief Executive Richard Arnold would depart after less than two years in the top job. Other executives are expected to leave after the deal is finalised, sources say.
The deal values Manchester United above Premier League soccer rival Chelsea, which was sold by Russian businessman Roman Abramovich last May for $5.2 billion -- including debt and investments -- to an investment group led by U.S. billionaire Todd Boehly and private equity firm Clearlake Capital.
Manchester United generates more revenue and has a larger fan base than its London rival. Including debt the deal values Manchester United at between $6 billion and $6.5 billion.
The Glazer family has faced intense criticism from fans over its handling of this key part of the club's operations.
The family, which made its fortune in real estate, retail and healthcare and owns the NFL's Tampa Bay Buccaneers, bought the team for 790 million pounds in 2005. The six descendants of American businessman Malcolm Glazer, who died in 2014, currently control 96% of Manchester United's voting stock.
Price Momentum
MANU is trading in the middle of its 52-week range and below its 200-day simple moving average.
What does this mean?
Investors are still evaluating the share price, but the stock still appears to have some downward momentum.
The deal, which could be confirmed later on Friday, will bring to an end a year-long sale process. The Glazer family announced last November that they were exploring "strategic alternatives" for the club, including a possible sale and were open to fresh investment.
Ratcliffe's offer represents a premium of 79.1% to the stock's Thursday closing price of $18.43, valuing the Old Trafford club at about $5.4 billion excluding debt.
While the deal will not see the back of the Glazers, who are deeply unpopular with the fans of the 20-times English soccer champions, it will result in major changes to the way the club is run.
Ratcliffe wants to overhaul the club's football operations. It has underperformed on the pitch since former manager Sir Alex Ferguson retired in 2013 following a period of unprecedented success for the club.
Ratcliffe has promised sweeping changes. The club announced on Wednesday that Chief Executive Richard Arnold would depart after less than two years in the top job. Other executives are expected to leave after the deal is finalised, sources say.
The deal values Manchester United above Premier League soccer rival Chelsea, which was sold by Russian businessman Roman Abramovich last May for $5.2 billion -- including debt and investments -- to an investment group led by U.S. billionaire Todd Boehly and private equity firm Clearlake Capital.
Manchester United generates more revenue and has a larger fan base than its London rival. Including debt the deal values Manchester United at between $6 billion and $6.5 billion.
The Glazer family has faced intense criticism from fans over its handling of this key part of the club's operations.
The family, which made its fortune in real estate, retail and healthcare and owns the NFL's Tampa Bay Buccaneers, bought the team for 790 million pounds in 2005. The six descendants of American businessman Malcolm Glazer, who died in 2014, currently control 96% of Manchester United's voting stock.
Price Momentum
MANU is trading in the middle of its 52-week range and below its 200-day simple moving average.
What does this mean?
Investors are still evaluating the share price, but the stock still appears to have some downward momentum.
⭐⭐⭐ Sign Up for Free ⭐⭐⭐
1) Download our App on Google Play! dexwirenews.com/APP
2) Text Message Notifications: dexwirenews.com/SMS
3) Telegram: t.me/DEXWireNews
4) Follow Us on our Social Networks
1) Download our App on Google Play! dexwirenews.com/APP
2) Text Message Notifications: dexwirenews.com/SMS
3) Telegram: t.me/DEXWireNews
4) Follow Us on our Social Networks