Extending The Offer To Purchase 25% Of Manchester Shares

Sir Jim Ratcliffe's offer to buy a 25% stake in Class A shares in Manchester United, traded on the New York Stock Exchange, has been extended until midnight next Friday. The offer, which is part of Ratcliffe's deal to become a minority shareholder in Manchester United, is scheduled to expire at midnight Tuesday (UTC). On Christmas Eve, it was announced that the head of the giant chemical company Ineos had agreed to buy a 25% stake in Manchester United, in a deal that included investing $300 million in the club’s infrastructure. In addition to purchasing Class B shares owned by the Glazer family, the announcement confirmed that Ratcliffe would offer to purchase up to 25% of all Class A shares at a price of $33 per share. Ratcliffe has held a series of meetings with club staff and partners in recent days, meeting leaders of the independent Manchester United Supporters' Fund and speaking with local officials, who included senior representatives of the club's board and the Mayor of Greater Manchester, Andy Burnham. News reports revealed that Ratcliffe is already planning to lead a comprehensive reform process for the Manchester United football team, in order to restore luster to the team, which left continental competitions early this season, after finishing bottom of its group in the first round of the Champions League. It is noteworthy that Manchester United is currently in sixth place in the English Premier League standings, with 41 points, 6 points behind the fourth-place team, who qualifies for the Champions League next season, with 14 matches remaining until the end of the current season.