For the third time in a matter of weeks, the soft ‘deadline’ for bids to buy Manchester United has passed.
The much-maligned Glazer family announced last year that they would be “exploring strategic alternatives” for the club, which included a full takeover. That was back in November, and the future of United remains as unclear now as it was six months ago.
The two parties leading the race to buyout the Glazers are INEOS chief Sir Jim Ratcliffe and Qatari banker Sheikh Jassim bin Hamad Al Thani. Both parties have registered their interest in a complete takeover and had officially registered bids with American merchant Raine Group on two occasions.
But with no offers reaching the record-breaking £6 billion valuation, the current owners extended the deadline for a third time, this time closing on Friday, April 28 at 10pm UK time. Here’s where we stand in one of the most protracted takeover processes ever seen in elite sport.
Sheikh Jassim’s stance and Neymar offer
The Qatari has the financial firepower to easily afford the Premier League giants. Sheikh Jassim is understood to have lodged a bid which breaks the £5bn mark - but is still below that whopping Glazer asking price.
He does intend to buy 100 per cent of the club, buying out the American family and all minority shareholders. However, while he is happy to lodge a world-record bid for a professional sports team, he is adamant he will not be forced into ‘grossly overpaying’, the Daily Mail claim.
Sheikh Jassim has told supporters that he intends to help Manchester United “return to its former glories both on and off the pitch, and – above all – will seek to place the fans at the heart of Manchester United once more.
His offer will also be completely debt free, with assurances of investments into the training centre, Old Trafford and the local community. Many fans remain laser focused on the on-field product however, and reports have suggested Sheikh Jassim has green lit his first transfer should he assume control.
The Sun report that the Qatari billionaire will sanction a move to bring Paris Saint-Germain superstar Neymar to the Premier League. United boss Erik ten Hag is in desperate need of a striker and the Brazilian would fill that need, as well as providing the club a marquee signing.
Sir Jim Ratcliffe’s U-turn
Boyhood United fan, Sir Jim Ratcliffe, remains in the mix - but has changed tact, with suggestions he could now propose an offer that would see the Glazers remain in situ. INEOS are considering a bid to purchase 50 per cent of the club, which would mean the current stewards could retain their remaining stakes, equating to around 20 per cent.
That would be hugely unpopular to United fans, who are desperate after two decades of mismanagement, for wholesale changes. United legend Gary Neville has consistently made it clear any offer that would end with the Glazers still at the club, should not be accepted.
"No thank you! This doesn’t work for United!" Neville said of reports stating private equity firm Carlyle Group could bid for a minority stake. "The Glazer PR machine keeps leaking this type of minority partnership out there bi-weekly whilst stressing it’s a confidential process!"
“GET ON WITH IT!”
As the new bids are considered, fans will be back in the ‘wait and see’ stage that has become second nature over the past six months. But the Manchester United Supporters’ Trust (MUST) have demanded an acceleration in the process to ensure Ten Hag’s positive start in the dugout doesn’t go to waste.
The Dutchman, still in his first season in charge, has underlined his importance to the club and MUST have already demanded that him staying on has to be a non-negotiable of any sale. On Friday, they sent a new message to the United owners, urging them to engineer a quick sale to ensure Ten Hag can operate effectively in the summer transfer window.
The statement from MUST reads: “Right now, most United fans are pretty frustrated by the whole process. When it began, back in November, our very first statement called for the Glazers to make sure the process was delivered as quickly as possible so that uncertainty over the ownership did not impair Erik ten Hag’s rebuild plan.
“Yet with the transfer window about to get going again in earnest, and with as much uncertainty as ever over the future ownership, we are now in precisely the situation we most feared.
“With new bids for the Club coming in today, and Erik needing a good transfer window to address the obvious deficiencies in our squad, our message to the Glazers is simple - be realistic on the valuation and GET ON WITH IT!!”
Protests are planned for United’s home game with Aston Villa this weekend, with supporters marching from the city centre under the slogan ‘full sale only’. There will also be a boycott of the first 18 minutes of the match “one for every year the Glazers have driven our club to the ground”.
