Manchester United takeover: Sir Jim Ratcliffe and Sheikh Jassim remain eager to buy the club.

Sir Jim Ratcliffe is facing a potential legal battle as he looks to buy Manchester United, according to reports. The INEOS chief is widely considered as the frontrunner in the race to purchase the club. However, Sheikh Jassim remains in the mix – with the Qatari billionaire making five bids so far.

According to Breakingviews, Ratcliffe’s proposal of owning at least 51 per cent of United has sparked concerns among some of the club’s current investors.

It’s claimed ‘hedge funds are laying the groundwork for a legal fight if the $3 billion soccer club’s controlling Glazer family tries to shut them out of any sale’.

They add that one particular hedge fund, with a ‘large stake’ in United, is ‘making legal preparations in case Ratcliffe launches an offer that involves only buying the Glazers’ super-voting Class B shares’.

The report adds ‘such an approach would effectively exclude minority investors from the takeover.’

And it’s also claimed that firms were already studying past precedents under Cayman Islands law, where United is incorporated.

Ratcliffe reportedly may not have enough funds to undertake a rebuild of Old Trafford as well.

Man Utd takeover: Sir Jim Ratcliffe legal issues represent a boost to Sheikh Jassim (Image: GETTY)

The famous stadium is in big need of modernising following years of Glazers neglect.

In order to pay for any improvements to the grand arena, Ratcliffe would then potentially pile more debt onto the club.

And United’s minority investors may be left with shares worth significantly less than before as a result.

All in all, it’s a messy situation.

And that may explain why the Glazers have used PSG chief Nasser Al-Khelaifi to try and get Sheikh Jassim to up his offer for the club.

While the Qatari billionaire has made five bids so far, the Glazers appear to still be holding out for more cash in order to pack their bags and leave for good.

Man Utd takeover: Sir Jim Ratcliffe and Sheikh Jassim remain in a battle (Image: GETTY)

And that’s irking many United fans, as well as manager Erik ten Hag.

Ten Hag is desperate for clarity as the summer transfer window nears, with the Dutchman eager to improve his squad.

Harry Kane is a priority target, while United have made progress as they look to acquire Mason Mount from Chelsea.

But with the takeover situation rumbling on, Ten Hag still doesn’t know how much he’ll have to spend this summer.

And what ultimately happens remains to be seen, with no end to the saga currently in sight.

Man Utd takeover: Sir Jim Ratcliffe is considered the frontrunner in the race (Image: GETTY)

Meanwhile, Simon Jordan recently slammed United fans amid a potential takeover – insisting Sheikh Jassim owning the club highlights their hypocrisy.

“Their hypocrisy and double standards are so steeped in a lack of self-awareness that it borders on the staggering,” he wrote for the Daily Mail.

“United fans mocked their noisy neighbours when Middle Eastern money transformed Manchester City’s fortunes and they weaponised that new-found wealth to ridicule the substance of their rivals.

“They were sneering because they viewed United as an organically built club and now, without a hint of embarrassment, they are desperate for Middle Eastern ownership because it suits them.

“Fans generally bemoan football culture being diminished and demolished by money, with players paid far too much and detached from reality.

Man Utd takeover: The Glazers are yet to decide amid Sheikh Jassim and Sir Jim Ratcliffe scrap (Image: GETTY)

“But at the same time, fans scream for the next owner they want — and it’s invariably the one with the biggest chequebook.”

He added: “I wonder if they realise how preposterous it is to be telling Sir Jim Ratcliffe how he’s got to buy their club and if he doesn’t he can do one.

“Are they really that away with themselves that they think they can dictate to a billionaire how he buys something?

“It’s one thing putting your views across, it’s another thing being totally and utterly destructive and unrealistic.

“There is no need for vicious, vitriolic, hate-filled rants against owners. They haven’t stolen your first 𝐛𝐨𝐫𝐧 for goodness’ sake.”

Source: express