Investors in Manchester United are reportedly putting pressure on the board to accept a buyout deal from Qatari billionaire Sheikh Jassim, who has made five bids for the club.
The owners of Manchester United The Glazers are still reviewing their choices in the takeover process, while Sir Jim Ratcliffe is thought to be their preferred candidate. Investors in United’s A-shares, according to The Times, want the club’s directors to accept the Qatari offer.
Sheikh Jassim wants complete ownership of the club in order to take over as manager at Old Trafford. Ratcliffe’s £6 billion proposal, on the other hand, may see the Glazers continue on in a restricted position while they organize their affairs.
The story has lasted eight months since the Glazers first stated they were open to a sale, and Ratcliffe has indicated he is still interested in the club. “We have a good offer, and we have met with the Glazers a couple of times,” he remarked at a recent book launch.
“We’ve had some excellent conversations with them. We are still highly interested in doing it. And it would be for the right reasons. But, in the end, it is their decision, not ours.”
“Teams don’t come around very often,” Ratcliffe, who already owns the French club Nice, continued. There are some special teams, and their value rises over time.
“Like art, the value of teams like this one is very special and rare.” I don’t think the world of sports will alter much in the next ten years.
“It’s one of our main interests; get the lads in the pub, and football is one of the two or three topics we ever discuss.” It’s football time. We’ve worked extremely hard our entire lives.”
However, business journalist David Hellier recently reported that Ratcliffe’s proposal is ‘dead in the water’ as United remains in uncertainty despite entering the key summer transfer window.
“I was picking up from Man United advisors that his bid, as things stand, is dead in the water,” Hellier remarked. I mean completely out of the water.
“And the reason for this is that he is proposing a structure that would buy out the Glazers, the majority shareholders while offering nothing to the minority shareholders.” The minority holders are slightly aggressive funds, primarily from the United States, while some are from the United Kingdom.”