Sir Jim Ratcliffe mounting imminent offer Man Utd stake - report

(Sharecast News) - Shares in Manchester United jumped on Wall Street on Friday morning on reports that Sir Jim Ratcliffe could buy a 25% stake in the football club some time next week. Ratcliffe's privately owned multinational chemicals company, Ineos, has been rumoured to be mounting a bid for the past month after a group of Qatari investors backed out of their offer to snap up the team.

According to Sky News, Ineos Sports is on the brink of finalising a $33-a-share offer with the club's current controlling investors, the Glazer family, which it has owned since 2005. The deal could be announced as early as Monday, Sky reported.

The offer represents a 79% premium to US-listed stock's closing price of $18.44 on Thursday, which valued the company at $3.04bn.

The stock was up 7.1% at $19.75 by 1030 ET.

The club has been on sale for a year. Up until October a group led by Sheikh Jassim Bin Hamad Al Thani were expected to make for 100% control of the club. But the Qatari banker eventually withdrew from the process due to his frustration with the family's demands, according to reports.

Through Ineos, it is thought that Ratcliffe wants to assume control of the football operations side of Man Utd, and aims to increase his ownership over time.

The rumours come just days after Manchester United announced that its chief executive Richard Arnold would be leaving, to be replaced temporarily by its general counsel Patrick Stewart.