One of the frontrunners to become Manchester United’s new owner, British billionaire Sir Jim Ratcliffe, is reportedly confident of completing the takeover. This report arrives amid claims that United’s current owners, the Glazers, could delay the sale until 2025.
Manchester United Owners Eye £10 Billion Deal
In November 2022, Manchester United’s owners, the Glazers, put the club up for sale. Since their announcement, many prospective suitors have come forward and fought each other over multiple rounds of bidding. Through the topsy-turvy ordeal, INEOS’ Sir Jim Ratcliffe and Qatar’s Sheikh Jassim have emerged as the two undisputed frontrunners.
Earlier it was thought that the takeover would conclude before the end of the year. On Sunday (September 10), The Daily Mail reported something different altogether, stating Glazers could delay the sale until 2025 to get the most out of their sale.
According to The Mail’s report, United’s American owners could hold out until revenue from TV rights improves and might potentially demand a massive £10 Billion ($12.48 billion) for the club.
Ratcliffe Is Confident While Jassim Is Unsure Of Glazers’ Intentions
As per the Guardian, both Jassim and Ratcliffe are prepared to wait patiently to complete the takeover. However, it is the Brit who is more optimistic about the deal. Guardian wrote:
“While Sheikh Jassim’s representatives are now unsure if the American family still wishes to let go of the club, those acting for Ratcliffe are more confident they are intent on selling. Neither Sheikh Jassim, a Qatari banker, nor Ratcliffe, one of Britain’s richest people, have set a timeframe regarding a resolution.
“The Mail on Sunday reported this month that the Glazers were holding out for a much higher bid, potentially as much as £10bn. The report said the Glazers would wait until 2025 to sell the club when increased television rights revenues and the expansion of the Club World Cup could make United more valuable.”
The report also shed light on how the Glazers’ potential U-turn affected Manchester United’s stocks. It added:
“There has been no official confirmation or denial of the Mail on Sunday story, which led to the steepest single-day fall in United’s share price. Shares in the club dropped by 18.2% on the Tuesday following the story, to $19.35 (£15.40), the biggest daily drop since they were listed on the New York stock exchange in 2012.”
Although both Jassim and Ratcliffe are keen to own Manchester United, their acquisition strategies are quite different. While the former only wants 100% ownership of the club, Ratcliffe reportedly wants to keep the Glazers on the board, but with a reduced stake of around 20%.
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