It’s been nearly a year since the Glazers announced their intention to sell Manchester United, but uncertainty continues to shroud the Americans’ future plans for the club.
While Sir Jim Ratcliffe remains convinced that the Glazers are keen to sell Manchester United, rival bidder Sheikh Jassim bin Hamad Al Thani seems to be less certain about their intentions.
Sheikh Jassim and Sir Jim Ratcliffe
The Glazers have held ownership of United since 2005, but in November of the previous year, they issued a statement indicating their willingness to entertain offers for the club. After an extensive process, British billionaire Ratcliffe and wealthy Qatari banker Sheikh Jassim emerged as the leading bidders. However, a deal has yet to be finalized, and as the club’s fans await a resolution, it appears there is a divergence of views between those pushing for a takeover.
According to The Guardian, neither party is eager to impose a strict deadline on the takeover negotiations. Nevertheless, the same report suggests that Sheikh Jassim’s representatives have become less certain about the Glazers’ intentions.
Earlier in the week, Ratcliffe spoke to INEOS.TV about the ongoing situation. The businessman, who has ventured into football ownership in France and Switzerland, is a self-professed United supporter. His takeover strategy reportedly includes allowing Joel and Avram Glazer to retain a temporary stake in the club.
Ratcliffe stated: “The Manchester United bid would have been unthinkable two or three years ago if we hadn’t had some experiences—some quite challenging experiences with Lausanne and Nice. You can’t really contemplate acquiring a brand like Manchester United and failing because the failure is just far too public and excruciating in a deal like that.”
The Glazers have owned Manchester United since 2005
In November 2022, Manchester United issued a statement regarding their strategic plans: “Manchester United plc, one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors is commencing a process to explore strategic alternatives for the club. The process is designed to enhance the club’s future growth, with the ultimate goal of positioning the club to capitalize on opportunities both on the pitch and commercially.”
“As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company. This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global scale, each in the context of enhancing the long-term success of the club’s men’s, women’s, and academy teams, and bringing benefits to fans and other stakeholders.”
“Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer said ‘The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers. As we seek to continue building on the Club’s history of success, the Board has authorized a thorough evaluation of strategic alternatives.'”
“We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the Club today and in the future. Throughout this process, we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders.”
