‘Six feet from the finishing line’ – Man Utd takeover ‘ticking along’ with claims delay is down to bidders
The takeover of Man Utd is “quietly ticking along behind the scenes” despite the process facing “delays”, according to journalist Ben Jacobs.
Sheikh Jassim’s fifth and final bid to buy Man Utd remains on the table while INEOS founder Sir Jim Ratcliffe’s offer is also being considered.
Some observers have interpreted the submission of two additional bids from Sheikh Jassim as an indication that the rival offer from Ratcliffe and INEOS is preferred by the Glazers.
However, sources close to the Qatari say he is simply keen to bring the matter to a swift conclusion with a crucial summer transfer window already underway.
The fifth and final bid was issued at the beginning of June, and Sheikh Jassim considers it an enormous premium on the current share price of the club, both now and at any stage of the club’s recent share price.
Ratcliffe is understood to have made an improved offer on April 28. It has been reported that his offer enables Avram and Joel Glazer to retain a 20 per cent stake in the club, something the INEOS camp has not confirmed.
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And now former CBS Sports journalist Jacobs has revealed that “a mixed narrative” is emerging between the seller and buyers over who is to blame for the delay in a takeover.
On the Man Utd takeover, Jacobs told GiveMeSport: “There’s a mixed narrative about why we’re not seemingly getting any movement. So, from the group’s perspective, they feel like they’re waiting for communication from the Glazers and the Raine Group.
“But sources close to the seller still indicate that the delays are group-triggered. In other words, they require more information to get to the point of being ready to sign. By ready to sign, I mean both groups have undertaken tasks and responsibilities traditionally associated with a preferred bidder.
“Both are being asked to get six feet from the finishing line to be ready to undertake the completion process. To get there, it requires a lot of legal and logistical box ticks. So, the groups imply that they are ready, and the Glazers must decide.
“But sources close to the selling side are implying the delays are down to the fact that the groups are not as ready as they perhaps are intimating they are. This is normal within a takeover to have these two different sides.
“But it’s also an indication that nothing is paused at this point. It’s quietly ticking along behind the scenes. And as we’ve had throughout the process, the Glazers simply need to show their hands. If they don’t, the situation won’t be any clearer.”
