Man Utd takeover is now 'getting closer' at Old Trafford

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·13 de octubre de 2023

Man Utd takeover is now 'getting closer' at Old Trafford

Highlights

Manchester United takeover saga may be nearing an end with journalist Ben Jacobs sharing an eye-catching update.
Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani have been battling it out to reach an agreement since the Glazer family put the Red Devils on the market 11 months ago.
Ratcliffe has been looking to gain the upper-hand by altering his stance and submitting a revised bid.

Manchester United are 'getting closer' to a takeover deal being completed with movement expected at Old Trafford, and journalist Ben Jacobs has informed GIVEMESPORT of a timescale and information on who is at the front of the queue to hold successful negotiations with the Glazer family.

The Red Devils endured their worst start to a domestic season since 1989 when Erik ten Hag's side were beaten by Crystal Palace last month, while there is also uncertainty over the future running of the club behind the scenes.

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Sir Jim Ratcliffe is emerging as the frontrunner to buy into Manchester United, according to Bloomberg, as his revised offer has given him the edge over bidding rival Sheikh Jassim bin Hamad Al Thani.

The report suggests the chief executive of Ineos, who officially became the second-wealthiest person in Britain thanks to his near-£30billion fortune earlier this year, is in discussions with the Glazers and their advisers over the structure of a deal which could value the Red Devils at more than £5billion.

It comes after it emerged last week that Ratcliffe was considering buying a minority stake in Manchester United, having been unable to reach an agreement with the current hierarchy when he and Sheikh Jassim have launched several proposals.

The 70-year-old is seeking 25 per cent of the Red Devils' shares - which would be reached by acquiring chunks of both the Glazers' stake and the stock publicly traded on the New York Stock Exchange in equal proportion - but the current hierarchy are holding out for up to £1.5billion as they value the club at a total fee of £6billion.

Although that would result in Ratcliffe only becoming a minority owner at Old Trafford, respected reporter Jacobs recently told GIVEMESPORT that the bidder would still look to secure full control of Manchester United further down the line.

While the billionaire has altered his stance in a bid to reach a compromise with the Glazer family, Sheikh Jassim and the Nine Two Foundation are remaining resolute and refusing to increase their £5billion bid.

Ben Jacobs update - Red Devils takeover

Jacobs understands the Manchester United takeover saga could be coming towards a close in the not-too-distant future, with there potentially being progress made before the turn of the year.

The reputable journalist believes Ratcliffe is at the front of the queue to shake hands with the Glazer family after reassessing his options, although he has refused to rule out the possibility of Sheikh Jassim lodging a fresh bid at the eleventh hour.

When asked for an update on proceedings behind the scenes, Jacobs told GIVEMESPORT:

"Now we are getting closer. I expect some movement before the end of the year because the Glazers are going to have to show their hand and make up their mind eventually. "It probably is fair to say that Ratcliffe - because he is doing all the talking and negotiation - is slightly ahead due to there being a practical route, structurally and financially speaking, through which he and the Glazers feel a deal could be done. "But, obviously, all can change if Qatar finally bid what it takes. It actually is still pretty open yet, at the same time as being open and very strangely for a takeover of this magnitude, also getting relatively close to the finishing line as well. "That's what makes it fascinating and frustrating for the fanbase - we are genuinely edging closer to a conclusion but, at the same time, it's very open."

When is a Man United takeover expected to be completed?

It appears that it may be some time before a takeover is officially rubber-stamped as, according to CaughtOffside, agent Jon Smith has warned a change of ownership could still be another year away as there is a possibility of a new Super League being established in the Gulf.

The report suggests that would increase the Red Devils' value significantly, while the big-spending Saudi Pro League has also had an impact on the Glazers' mindset despite their decision to put the club on the market when they began a 'process to explore strategic alternatives' 11 months ago.

It appeared that there was a serious threat of the American family taking Manchester United off the market last month due to a growing feeling they stand a chance of securing up to £10billion if they hold off concluding negotiations until 2025.

However, reliable reporter Jacobs has since told GIVEMESPORT that sources close to the sale had indicated that a takeover was still active, meaning an agreement could be found ahead of that period.

The Glazers won control of Manchester United when they took their shares up to 70 per cent by buying out Irish racing tycoons JP McManus and John Magnier in a £790million deal 18 years ago, but large sections of the fanbase are desperate for them to walk away from Old Trafford.

Supporters gathered in their numbers to protest against the current owners before last weekend's Premier League win over Brentford, with banners pleading for a full sale instead of them remaining at the club.