Man United Takeover: It has been over 8 months since the Glazers announced that they were going to accept bids to sell Manchester United. With one rumour after another regarding the takeover, Glazers are yet to confirm any takeover news. In the meantime, a recent update on the Man United takeover process says Sheikh Jassim is close to finalising a deal. Reportedly, the Qatari bidder is now doing ‘due diligence’ and then the takeover will be completed. There has been no news from Sir Jim Ratcliffe or the Glazers in the matter.
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The Glazers first announced their decision to sell Manchester United in November, last year. They put a valuation of £6 billion for the club. There were several bids, but most entities wanted to buy a few shares. Only two bids came close to the Glazers’ valuation. Those were presented by the Qatari banker Sheikh Jassim and the English businessman Sir Jim Ratcliffe. As per reports, after over 8 months, Glazers recently sat down with Sheikh Jassim. The discussions were positive and his takeover of the club will soon be done.
Reportedly, Sheikh Jassim and Co. are doing ‘due diligence’ and then the sale process will conclude. However, for all the formalities of the process to be done, it could take till November to complete. Apparently, coach Erik Ten Hag has become frustrated and angry with the process as he is having to conduct transfer negotiations in this turmoil. His budget was bound to a limited amount. Additionally, he did not get the financial backing that a takeover deal could have ensured.
Man United sealed Mason Mount’s transfer from Chelsea for £60 million and Andre Onana’s transfer from Internazionale for £47 million. Their most recent signing has been attacker Rasmus Hojlund from Atalanta for £72 million. However, their first priority target was Harry Kane from Tottenham Hotspur. As Spurs put a £100 million asking price on Kane’s head, the Red Devils were unable to pursue the player anymore. Whether Sheikh Jassim or Sir Jim Ratcliffe, the arrival of a new owner would have helped them in this transfer window.
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However, considering the delay in the takeover process, many people think that the Glazers don’t even want to sell the club. Many people also think that they will end up selling parts of the club to renovate the training ground and the stadium. That’s why many thought that Sir Jim Ratcliffe would be the frontrunner in the bidding race. Ratcliffe’s valuation of the club in his bid falls behind Sheikh Jassim. However, his bid still would have seen Glazers stay in control for a while longer.
To be precise, they would still be in control for a minimum of 3 years as Radcliffe’s offer had a put-and-call clause. The clause could have been triggered as soon as in 3 years. However, to the fans’ relief, it seems Sheikh Jassim could win the race against Ratcliffe. Jassim is ready to take over the entire club as soon as possible and fans would be delighted if that happens. They want current owners Glazers, whose reign at the club has been tainted with incredible debts and lesser trophies.
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