The Manchester United takeover battle has been a very elongated saga for the past seven months, affecting the mood of the fanbase, with Sir Jim Ratcliffe and Sheikh Jassim the frontrunners to buy the club.
Both bids are contrasting, Ratcliffe and his INEOS group want over 50% of the club’s entirety, leaving both Avram and Joel Glazer as shareholders before ‘buying them out’ in the next three years. Whereas Sheikh Jassim has expressed his intention in taking over 100% of the club and has promised to invest heavily on and off the pitch to make Manchester United a competitive force again.
However, according to the business news outlet Bloomberg, Sheikh Jassim’s Qatari group is ‘increasingly confident’ that it’s won the biding for Manchester United.
Those within the inner circle of the bid have now begun communicating their confidence of victory and believe it is now a matter of time before an official announcement.
But with the official sale process heading into its eighth month, the Glazers, could make a last minute decision to keep hold of the Premier League club, accepting funds from an outside investor to renovate Old Trafford and Carrington’s training facilities, one of the sources said.
In addition, the article also adds that the structure of Ratcliffe’s deal has provoked opposition from current minority shareholders in Manchester United, who would not be bought out.
A top-three shareholder sent a letter to Manchester United’s board directors, warning that the independent directors could be at risk of being sued for recommending a bid that favours one set of the shareholders over another.
It looks like we are approaching the endgame of the takeover saga, if and when the official announcement happens remains the question. The upcoming weeks are crucial, especially with Erik ten Hag’s upcoming summer window, building on the momentum we had from last season to potentially achieve success. He needs to be backed.