Ratcliffe set Man Utd deadline before deal was agreed / Photo: Darren Staples - AFP
-
Kung wins Vuelta time-trial as Mas retains lead
-
AI Risks to Enter 60–80% of Liability and Cyber Insurance Underwriting by 2028, ScienceSoft Predicts
-
DR Congo school fire leaves at least 14 children dead
-
Ultimate Championship as big as Olympics - and more lucrative, says Bolt
-
USA and France ease into women's Basketball World Cup semis
-
Diana's 'revenge dress' to go up for auction in New York
-
ECB lifts borrowing costs amid energy shock, opens door for more hikes
-
England dominate Pakistan, close in on Test series sweep
-
France defeat China to reach women's basketball World Cup semis
-
Russia trafficking foreigners to fight in Ukraine, Amnesty says
-
Tribal Launches Campfire, Letting Business and Technical Teams Build on Salesforce Together
-
Global Tokenized Real Estate Market to Hit up to $3 Trillion by 2030, ScienceSoft Predicts
-
Yemen's Houthis seize key city on Red Sea
-
Stocks fall as fresh oil surge fans inflation fears
-
US producer inflation tops expectations as diesel costs jump
-
August hottest month ever recorded globally as huge El Nino emerges
-
Rubio ends South America swing with Peru security talks
-
'Bragging rights' up for grabs at game-changing Ultimate Championship, says Coe
-
Defiant Iran seeks to bruise Trump ahead of midterms
-
ECB hikes borrowing costs to combat Mideast energy shock
-
France withdraws support for Infantino in FIFA presidential election
-
England turn screw in 3rd Test against Pakistan
-
Evolution Metals & Technologies Provides Initial Revenue Guidance of $400-460mm for Fiscal Year 2027
-
France will not support Infantino in FIFA election: federation chief
-
Clark-led USA thrash Hungary to move into women's World Cup semi-finals
-
In their words: Israeli forces describe AI-backed Gaza killing in new film
-
Vance takes spotlight as Republicans close Trump-heavy convention
-
Yemen's Houthis seize key city on Red Sea: military source
-
Russian skater Valieva loses neutral status
-
Oil prices extend gains as markets await ECB rate outlook
-
Will Israel's right exploit sanctions in run-up to vote?
-
Wars pose a test as India hosts BRICS summit with China, Russia, Iran leaders
-
'Metal Gear' creator moves to Xbox after Playstation cancellation
-
Messi to buy second Spanish lower league club
-
Indonesia rescues six orangutans from fires in a week
-
Pochettino calls for Chelsea to lose 2016-17 Premier League title
-
Macron urges Europe to develop 'crewed spaceflight' programme
-
North Korea leader's daughter believed to have younger sibling: Seoul
-
Deals worth billions to be signed as UAE leader visits Germany
-
Wars pose a test as India hosts BRICS summit with Russia, Iran leaders
-
Zamanat Targets GCC’s $250 Billion SME Financing Gap With Up to $100 Million Tokenized Private Credit Fund
-
Alessio Vinassa Unveils an Emerging Technology Investment Approach Shaped by Financial Challenges
-
Sri Lanka court revokes monk's pardon, orders return to prison
-
Stocks drop as oil spike fans inflation and interest rate fears
-
'Hopeless, stuck, afraid': US deportees in limbo in Cameroon
-
Portugal harvests grapes at night to beat the heat
-
Mount Fuji ends hiking season with landslide, two rescues
-
Philippine ferry fire kills 5, dozens missing
-
Seahawks beat Patriots again in NFL opener
-
Oil prices flare as Iran tightens grip on Hormuz
NYSE - LSE
Ratcliffe set Man Utd deadline before deal was agreed
Jim Ratcliffe warned Manchester United he would have ended his bid to become a minority owner if it was not sealed before Christmas Day, according to financial documents released by the club on Wednesday.
British billionaire Ratcliffe agreed to buy a 25 per cent stake in the Premier League club for around £1.02 billion ($1.3 billion) on Christmas Eve.
But US Securities and Exchange Commission (SEC) filings released on Wednesday have revealed the INEOS chairman's patience had begun to wear thin shortly before an agreement was struck.
In the week before Christmas, Ratcliffe's company 'Trawlers Limited' "gave Manchester United a deadline of December 25, 2023 to accept its best and final proposal".
It led to an informal meeting of the board of directors on December 22 and a "robust discussion regarding the feedback from the offeror".
The board representatives noted Ratcliffe "could decide to withdraw (the) proposal if the board of directors was not prepared to move forward by December 25, 2023".
Ratcliffe's investment in United was subsequently agreed on December 24, bringing an end to a protracted saga that began when United's owners the Glazer family put the club up for sale in November 2022.
Ratcliffe struck a deal to buy 25 per cent of Class B shares held by the Glazers and up to 25 per cent of all Class A shares at a price of 33 US dollars (£26).
That offer for up to 13,237,834 Class A ordinary shares was confirmed on Wednesday.
Z.AbuSaud--SF-PST
