Ineos Chair Jim Ratcliffe would pay over $1.5 billion for the stake in Manchester United if his bid for the soccer club is accepted by the Glazer family that controls it, Reuters reported on Sunday, citing a person familiar with the matter.
"Investors are clearly reacting with disappointment to expectations the Qatar deal for Manchester United will not go through," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.
"Expectations for a flood of fresh funding into Man U's coffers for a new stadium and new players are being revised."
Jassim informed the Glazer family a few days ago that he will not raise his bid of more than $6 billion for Manchester United, which had a market capitalization of $3.26 billion as of Friday's close.
Reporting by Sruthi Shankar in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
Persons:
Jim Ratcliffe, Qatar's Sheikh Jassim bin Hamad al Thani, Ineos, Glazer, Susannah Streeter, Hargreaves Lansdown, Jassim, Sruthi Shankar, Shinjini
Organizations:
Manchester United, Reuters, Premier League, Hargreaves, Thomson
Locations:
Qatar, Bengaluru