The Manchester United Takeover Drama Lingers On
A Lengthy Affair with Sheikh Jassim and Sir Jim Ratcliffe as Main Contenders
Manchester United fans may need to hold their breath a little longer, as the takeover saga involving Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe is anticipated to continue until the Premier League season’s end. Despite being a month overdue, the Glazers have yet to declare a preferred bidder for the historic club.
According to The Telegraph there have been encouraging discussions with Sir Jim Ratcliffe, the Ineos owner, have been taking place, yet the American family’s inner circle has not confirmed him as the preferred bidder. With tensions rising between representatives involved in the process, Sheikh Jassim remains a leading contender as well.
Glazers Face Mounting Pressure as Decision Looms
As the summer transfer window approaches, the controversial Glazer family faces increased pressure to make a final decision. However, sources confirm that the prospect of declaring a preferred bidder this week has been ruled out entirely. While hopeful, key figures are uncertain that the process can be resolved by the end of May.
With Manchester United’s last match of their campaign set to be the FA Cup final against Manchester City on June 5 and the transfer window due to open on June 10, manager Erik ten Hag is desperate for clarity so he can progress with his plans.
The sale process’s backstage is fraught with uncertainty, with claims and counter-claims emerging amid frayed tempers. Sheikh Jassim’s team reportedly prefers dealing directly with the Glazers instead of the bankers handling the sale. Despite disputes over this claim, the outside possibility of the Glazers not selling remains.
United Fans’ Frustration Builds as Uncertainty Continues
The ongoing uncertainty has infuriated United fans, who are expected to stage further protests during the club’s last two Premier League games at Old Trafford. On Tuesday, Sheikh Jassim submitted an increased 11th-hour offer outside the formal bidding timeline following leaks about his previous offer falling short of Sir Jim Ratcliffe’s valuation.
Sheikh Jassim, chairman of the Qatar Islamic Bank, maintains a 100% purchase proposal for Manchester United. The new terms include a pledge to clear all of United’s existing debts and establish a separate fund focused solely on the club and community, according to insiders.
After the third round deadline on April 28, Sir Jim Ratcliffe was said to have come closest to meeting the Glazers’ £6 billion valuation. Ratcliffe’s offer included purchasing the Glazers’ 69% shareholding and proposing to acquire a 50.1% share for around $3 billion, allowing the Glazers to retain a minority stake for three years before being automatically forced out.
Co-Chairmen Joel and Avram’s Dilemma
The takeover’s outcome may hinge on whether Joel and Avram, the United co-chairmen most reluctant to relinquish control, decide whether they want to retain a stake in the club. Three American investment firms – Elliott Management, the Carlyle Group, and Ares Management – have offered to buy a minority stake. The proceeds could be earmarked for redeveloping Old Trafford, unless Joel and Avram used them to buy out their four siblings, after which they would need financing to refurbish the stadium and training ground.
