Two formal bids for a takeover of Manchester United by Sheikh Jassim bin Hamad al-Thani and Sir Jim Ratcliffe have been tabled, but the sale may be in jeopardy due to the Glazer family’s refusal to drop their asking price of £6 billion ($7bn).
The potential takeover of Manchester United by Sheikh Jassim bin Hamad al-Thani and Sir Jim Ratcliffe has been making headlines in the sports world, as the Glazer family has opened itself up to offers for the Premier League club. Two formal bids have been tabled, but the Glazers are demanding a steep asking price of £6 billion ($7bn), which the potential buyers are yet to meet.
Initial meetings between all parties are set to take place in the next couple of weeks, but there is no guarantee that a compromise that suits everyone will be agreed upon. If a deal is not put in place before the end of the 2022-23 season, then a takeover may not happen at all, according to reports.
While the potential takeover bids are the main focus of attention, there has also been interest from investors looking to acquire a minority stake in Manchester United. American hedge fund Elliott Management has reportedly expressed interest in acquiring a stake in the club.
Despite the interest from potential buyers and investors, the Glazers have always stated that they would listen to approaches of all kinds. The Raine Group, who have been working on behalf of the Glazers throughout the sale process, is also expected to be involved in the discussions, which are expected to take place in London or Manchester.
The potential takeover of Manchester United has been a topic of speculation for years, with many fans hoping that a new owner could bring fresh ideas and a new direction for the club. However, whether the talks between the potential buyers and the Glazers will result in a deal remains to be seen.
