Man Utd bidder ‘more confident’ of takeover completion despite £10bn Glazer ‘announcement’ claim

According to reports, Sir Jim Ratcliffe and Sheikh Jassim are ‘prepared to be patient’ as they attempt to buy Manchester United from the Glazer family.

The Premier League giants have been up for sale since November last year. At the time, the Glazer family announced that they would “evaluate all options” and a full takeover was not ruled out.

There have since been three official rounds of bidding, with INEOS’ Ratcliffe (who owns Ligue Un outfit OGC Nice) and Qatar’s Sheikh Jassim emerging as the most likely candidates to oust the Glazer family.

It’s been made clear in recent months that Ratcliffe would be willing to keep the Glazer family on board with a reduced stake of around 20%, but the American owners would eventually be ‘forced’ out by the Brit if his bid was accepted.

Sheikh Jassim meanwhile is only interested in a full takeover. While there has been three official rounds of bidding, the Middle East businessman has submitted five offers and it’s understood that his best proposal is worth around £6bn.

Conflicting reports have emerged regarding the Man Utd takeover of late as it remains to be seen whether the Glazer family will sanction a full sale.

It was even recently claimed that the Glazer family are planning to take Man Utd ‘off the market’ as they have decided that they want £10bn for the English club.

Yet The Guardian are now reporting that ‘Sheikh Jassim and Ratcliffe are prepared to play the long game in their respective wish to buy Manchester United’. They explain.

‘While Sheikh Jassim’s representatives are now unsure if the American family still wishes to let go of the club, those acting for Ratcliffe are more confident they are intent on selling. Neither Sheikh Jassim, a Qatari banker, nor Ratcliffe, one of Britain’s richest people, have set a timeframe regarding a resolution.

‘The Mail on Sunday reported this month that the Glazers were holding out for a much higher bid, potentially as much as £10bn. The report said the Glazers would wait until 2025 to sell the club when increased television rights revenues and the expansion of the Club World Cup could make United more valuable.

‘There has been no official confirmation or denial of the Mail on Sunday story, which led to the steepest single-day fall in United’s share price. Shares in the club dropped by 18.2% on the Tuesday following the story, to $19.35 (£15.40), the biggest daily drop since they were listed on the New York stock exchange in 2012.’

Last week, finance expert Kieran Maguire backed up previous reports regarding the Glazer’s £10bn asking price and he suggested that “it’ll be interesting to see whether there’s a formal announcement” from Man Utd to state that the owner are planning to be patient until their valuation is met.

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