Manchester United takeover ‘set to be DELAYED until May because of indecision among the Glazers’
The Manchester United takeover is expected to be delayed until May, with the Glazer family reportedly holding a £6bn bid after initial bids from Qatari investors and Sir Jim Ratcliffe were submitted for a maximum of £4.5bn .
A bid from Qatari Sheikh Jassim bin Hamad al-Thani, for full control, and a bid from British billionaire Ratcliffe to take a majority stake were submitted two weeks ago, but hopes of closing a deal by the end of March appear to be fading. unlikely .
According to the Guardianthere would be an indecision between the six Glazer siblings, with each member of the family having their own intentions surrounding the sale of Manchester United.
However, the report claims that while it is the family’s desire to sell the club, there are now doubts about an agreement reached before the end of the month, which will be delayed beyond the end of the season.
It comes after Sportsmail reported on Monday that those who bid for the Old Trafford club expect a response this week from those leading the process.
The Man United takeover is postponed until May due to indecision at the Glazers
The main bidders are Sheikh Jassim bin Hamad al-Thani (left) and Jim Ratcliffe (right)
A report claimed that the Glazers believe a deal is unlikely to be reached by the end of March
Sportsmail understands that US investment banker Raine Group will be contacting those who have submitted offers to buy or invest in the Premier League giants in the coming days, according to those with knowledge of the situation.
The development comes after another difficult few days for the club’s share price. The figure shot up when this newspaper announced earlier this month that a bid would come from Qatar.
However, after reports that owners, the Glazer family, are considering retaining control of United at some point on Sunday, the price had fallen by about 13 percent.
A ‘soft deadline’ for bids fell on February 17. Raine went over the bids before the next process. The contenders are expected to be given access to United’s full financials, having been glimpsed following their initial expressions of interest.
It is unlikely that the initial bids will be accepted, with a period of negotiation ahead. There is a belief that the Glazers are seeking around £6bn, a valuation some consider unrealistic.
As was the case with the bidding process for the sale of Chelsea, also overseen by Raine, some of the groups involved may be brought into contact with a view to forming consortia.
Anti-Glazer sentiment has been commonplace at United games this season, but the volume was turned up during Sunday’s Carabao Cup final, with Avram Glazer in attendance.
As United approached their first trophy in five seasons, loud chants of ‘We want Glazers out’ were heard from the United section, with some carrying anti-Glazer banners.
Apart from offers to take over the club, there are investment offers that Avram and brother Joel could theoretically use to pay off the other four members of the family and redevelop Old Trafford and the club’s training ground.
United hopes to build on their success under new ownership after winning the Carabao Cup
How that would affect the fans remains to be seen. Following United’s support for the subsequently aborted European Super League, their match with Liverpool was abandoned on 21 May when protesting fans managed to break into Old Trafford.
Al-Thani, son of a former prime minister and chairman of one of Qatar’s largest banks, is said to have watched the match with his family at his home in Doha. He is known as a United fan and friends say he wears the club’s shirt during weekly five-a-side matches.
Meanwhile, Sportsmail understands there is some consternation among some bidders that they need to hear back after the deadline.
That sentiment was compounded by reports over the weekend that bids for the club were below the Glazers’ valuation – which came after Raine ordered those in the process to shut up.