Man United Takeover: The Manchester United takeover saga is still an ongoing process as per one of the primary bidders, Sir Jim Ratcliffe. The Glazers are yet to come up with any announcement as to whose bid they are going to accept or if they are even selling the club at all. Fans are growing more frustrated with every day. In the meantime, Qatari media reported that Glazers have already agreed a deal with Sheikh Jassim. However, Ratcliffe has come out and said that it’s not over yet and they’re still in the race.
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The Manchester United takeover Saga has been going on for months now. However, the Glazers are yet to give any hints as to which way they may go. The delay has brought on many doubts in people’s minds that the Glazers might not be looking to sell at all. They have two leading bidders – Qatari bidder Sheikh Jassim and British businessman Sir Jim Ratcliffe. Recently, news is doing rounds in Qatar that Glazers have agreed to Sheikh Jassim’s offer. However, Ratcliffe has replied to those rumours.
On Wednesday, Ratcliffe was asked about the matter during a book launch and he said, “There is still a process, we are in the process, We have a good offer. We have met the Glazers a couple of times and had a good conversation but at the end of the day it’s their decision. We still very much would like to do it. I also believe we would do a good job and do it for the right reasons. We keep very focused on it.”
Sheikh Jassim’s offer values the club at a lower amount than Ratcliffe’s offer. However, Sheikh Jassim has given the bid to buy-out the entire club at this very moment. On the other hand, Ratcliffe’s offer lets Glazers stay for at least another three years. Ratcliffe’s offer apparently holds a put-and-call offer which will let him buy the remaining shares of the club in as early as 3 years. Adding to his words, Ratcliffe said he is not looking to squeeze out money, but knows that owning the club will have financial benefits.
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He added, “They ain’t making them any more, Manchester United and these type of clubs. It’s like art or areas like that when you have special things and their value continues to pick up over time because they are very special and rare. I don’t like throwing money away or losing money. It doesn’t make me happy at all but we aren’t there to make money out of it. If it’s a really good asset it will increase its value over time.”
Glazers have also received smaller investment offers. There have been reports that Avram and Joel Glazer are reluctant to give up their control of Manchester United. Hence, they might just agree to these smaller investment offers and rebuild the stadium and the training ground. The closest bids to Glazers’ asking price have been around £5 billion from Sheikh Jassim and Sir Ratcliffe. They might work on the stadium if they acquire the club. Upon asking if he might change Old Trafford’s name, Ratcliffe said, “God no. That would be heresy.”
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