Man Utd takeover announcement delayed as Glazers and Raine Group details come to light

The Glazers, who own Manchester United, are reportedly not planning to select a preferred takeover suitor on Friday. This implies that there will be yet another delay in the process. While organizations like Elliot Management and the Carlyle group are prepared to offer minority investment, Sheikh Jassim and Sir Jim Ratcliffe remain in the dark.

The Glazers were anticipated to announce their preferred takeover bidder by Friday, according to earlier reports.

According to writer Ben Jacobs, the Raine Group engaged in a “back and forth” and he doesn’t think an announcement will be made, which means another delay in the process is likely.

When asked if he anticipated an announcement, he replied, “Not necessarily.

“The process has been filled with shocks, turns, and twists.

“However, based on my conversations with those involved in the process, it seems optimistic that a preferred bidder would be named by Friday.

“The parties and Raine Group are currently exchanging a lot of back and forth conversation.

“At this time, no one has been assigned an exclusivity term.

If there is a preferred bidder, it will be fascinating to observe if they have exclusivity since, if not, the door will always be open to another party.

Sheikh Jassim has so far made four offers for United.

His most recent bid was made ten days ago, however it’s thought that it still values the club less than Ratcliffe’s.

By allowing Joel and Avram Glazer to continue in smaller positions, the INEOS CEO hopes to help United win the race.

However, many club followers have been incensed by this choice, and many of them are anxious to finally put the Glazers out of their misery.

The family hinted back in November that they were open to being acquired, but they didn’t say for sure that they would be going out of business.

And six months later, there is still no sign of a quick resolution to the saga.

The Manchester United Supporters Trust issued a statement last month requesting that the procedure be expedited since it continues to take too long.

“MUST welcomed the news and went on to urge the majority owners to move forward with the process with speed, so that any period of uncertainty was as short as possible,” they said. “In November, it was announced that the Glazers were undertaking a strategic review’ and inviting offers to buy the Club.

“Nearly five months later, we heard rumors that a third round of offers will now be accepted because the offers from potential buyers continue to be below the Glazers’ valuation.

“The news of these delays and further protracted uncertainty are of considerable concern, especially given the significant improvement Erik Ten Hag made in his first season and the fact that the crucial summer transfer window is just a few weeks away.

Erik must be aware of his financial limitations in order to make the necessary additions to the team, and the club’s entire management team must be focused on helping him.

We are also unable to advance significant investment initiatives, like the stadium redevelopment because of our current impasse.

“We urgently need new investment, which unquestionably calls for new ownership.

“MUST, along with United supporters everywhere, are requesting that this process be finished as soon as possible.”