Avram and Joel Glazer would retain a 20 per cent stake in the proposed deal (Picture: Getty)
Sir Jim Ratcliffe has risked the wrath of Manchester United fans by offering a deal to buy the club that would enable Joel and Avram Glazer to remain at Old Trafford.
United are still in the midst of a protracted bidding process with Ratcliffe and Qatari banker Sheikh Jassim bin Hamad Al Thani both initially making offers for an outright takeover thought to be in the region of £4.5billion.
A third round of bidding, overseen by merchant bank Raine, is underway with the Glazers believed to be valuing the sale between £5bn and £6bn.
According to the Daily Mail, Ratcliffe and INEOS have presented an offer where the British billionaire would take a controlling stake of more than 50 per cent with the Glazer brothers retaining a combined 20 per cent.
The final portion of the club would remain owned by various investment groups.
Sources close to the process claim the prospect could be the preferred option for Joel and Avram Glazer – a prospect that would be deeply unpopular with United supporters.
The deadline for closing bids is this Friday with Sheikh Jassim bin Hamad Al Thani also expected to present his next offer.
Avram Glazer’s presence has been deeply unpopular (Picture: Getty)
The Qatari banker is looking to take full control of the club and has ‘no interest’ in taking a partial stake.
The length of time around the bidding process to buy United has already surpassed initial expectations with bidders left ‘baffled’ by the lack of updates following a second round of offers earlier this month.
United legend Gary Neville, an outspoken critic of the Glazer regime, condemned the drawn out tactics and fears things will turn ‘toxic’ if a full sale is not achieved soon.
‘They’re making it up as they go along! Shoddy way to run a sale process,’ Neville tweeted at the start of the third round of bids.
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‘They need to get out by the end of May to allow the new owner a fighting chance to impact the next transfer window and get moving!
‘Taking it to a third round is just classless. The market has obviously not given them the answer they want!
‘It’s like they’ve made a pact to each other that they won’t go for less than £1billion for each family member (five of them). If they stay in after all this it will be toxic!’
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The deadline for closing bids is this Friday.