Man United takeover: Man United’s takeover saga continues even in the month of the Premier League. The English top flight is kicking off on August 11 and there is no major development in the story. Both Sheikh Jassim Bin Hamad Al Thani and Sir Jim Ratcliffe are waiting for any update regarding their bids for club ownership.
Man United’s takeover process might be put on hold. Ratcliffe’s INEOS firm and Sheikh Jassim’s Nine Two Foundation have been given no information on their bids by the current owners. A source from one of the bidders claimed they had “not been given any guidance at all on what comes next” and said, “there’s just been no communication whatsoever of late”.
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The whole takeover episode started last year and it’s been 9-10 months since we are not reaching the final process. The club was put up for so sale when Man United issued a statement to find alternatives to ownership. Glazers family said last year that they are exploring strategic alternatives.
Till now, three bids have been done for Man United ownership. Sheikh Jassim’s Nine Two Foundation made a final bid worth £6 billion ($7.6bn). It was supposed to be the final push in this takeover story. Still, the bid was not accepted by the Glazers family and the Raine Group which is organising the sale. Sheikh Jassim wants full control of Man United and even fans are also interested to see him as the new owner. Things are still on hold amid the Glazers family’s mood swings.
Glazers family also wants some control in the new ownership. As per the fresh report in the I Paper, the Glazers are not satisfied with the size of the offers from both bidders. The current owner admits the valuation of Man United is set to rise even further due to television rights deals. They also added that the valuation of the club is increasing because of the popularity of football in the US and elsewhere. The Red Devils just signed a 10-year extension with Adidas worth £900m ($1.15bn) and this is the biggest kit deal in Premier League history.
Man United are also busy in the summer transfer window and they invested a good amount in Mason Mount who made a move from Chelsea. The club recently went to the US for the pre-season tour and will soon start their Premier League campaign next week. Glazers family are not showing any further interest in selling the club. Both bidders are aware of the whole drama and they want to keep this ahead despite knowing the takeover process is on hold. They already made it clear that they don’t want to leave it midway.
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