Manchester United takeover has regained its lost momentum with Qatari billionaire invstor Sheikh Jassim Bin Hamad Al-Thani closing in on becoming new owner as new takeover deadline emerges.
The Glazers family, who have been at the helm of affairs at Old Trafford for 18 years, looked ready to bring their ownership to an end, when they put the club for sale in November 2023.
However, it has been a dragging tale of bids and rejections. The Glazers value Manchester United at £6bn and are not ready to budge in their asking price from suitors.
Two frontline bidders – Sir Jim Ratcliffe and Sheikh Jassim Bin Hamad Al-Thani – have been the leading contenders to take over the club.
A series of bids have been submitted to the Glazers following negotiations but the Glazers are yet to part ways with the club.
According to reports, the Glazers are ready to sell the club but wants to pocket their £6bn asking price before parting ways with the club..
Also, the delayed takeover process has been attributed to internal divisions within members of the family who are reportedly divided on whether to sanction a full or partial sale and how to share the proceeds of the deal.
A partial sale of the club will see the Glazers still retain ownership of the club with British billionaire investor and Ineos owner Sir Jim Ratcliffe a favorite.
A full sale of the club will see the Glazers relinquish their ownership of the club totally with Qatari investor Sheikh Jassim Bin a favorite to become a new owner.
Futballnews learnt the Glazers have finally resolved for a full sale which has seen Sheikh Jassim Bin Hamad Al-Thani emerged as a top favorite to become the new owner.
According to the Sun, sources close to Manchester United have revealed that November 2023 has been fixed as new buyout deadline for the takeover process to be concluded.
Sheikh Jassim Bin Hamad Al-Thani submitted a last hour bid of £6bn which met the Glazers valuation. Sources close to the club revealed Manchester United takeover process was exclusively negotiated with Shiekh Jassim’s representatives with Sir Jim Ratcliffe out of the picture.
However, the process witnessed the extended delay due to wrangles within the Glazers family on how the proceeds will be shared. There were other reported bottlenecks on tiny details of Shiekh Jassim’s bud which reportedly had to be sorted out.
With all now sorted out as reported by the Sun, the Glazers are now set to hand over the club to a new hand on or before November 2023, few weeks after the resumption of 2023/24 Premier League season.
The exit of the Glazers will bring their 15 years reign at Manchester United to an end. They have been blasted by the fans for over-a-decade of rot and downgrade under their watch.
