Manchester United Ownership Still In Limbo
Manchester United have still not found new owners. And now, it appears the Glazers are on the clock. The Qatar group, led by Sheikh Jassim, have reportedly submitted their fifth and final bid for complete ownership of the club. The key stipulation of this deal is that after Friday of this week, they will step out of the race for ownership.
Insider Fabrizio Romano recently tweeted more details:
Sheikh Jassim submitted a fifth bid to buy 100% of Manchester United. It’s an improved bid with clear indication: take it or leave it. #MUFC
— Fabrizio Romano (@FabrizioRomano) June 7, 2023
There will be no more bids from Qatari group — after this Friday, Sheikh Jassim will no longer engage with the process. pic.twitter.com/yooZYUQsUC
It’s currently a two-horse race between the Qatari delegation and Sir Jim Ratcliffe, the owner of British chemicals company INEOS. Numerous reports indicate that the Glazer family want roughly £6 billion to sell.
Also owners of the Tampa Bay Buccaneers, the Americans have been despised by Manchester United fans ever since their takeover back in 2005. Things reached a breaking point a couple years ago when fans invaded Old Trafford due to the Glazers’ interest in a European Super League.
The sale process has also infuriated many supporters as the summer transfer window has now swung open. The amount of funds available for manager Erik ten Hag to upgrade the squad is still unknown. Hypothetically, if this process finished already, Man United would probably have a very large budget. Many outlets have claimed Tottenham star Harry Kane is atop their wish list, but they will now have to beat Real Madrid for the England captain’s signature.
Clock Is Ticking
Fans are well aware of the pros and cons to each owner. Qatar is clearly the more financially powerful option, as ten Hag could probably transform the squad in a single summer with the amount of capital they have available. However, many fans are weary of Qatar’s human rights violations and their role in the 2022 World Cup. Others are not as concerned about any moral issues and would rather accept the tremendous funding to restore United to glory.
Ratcliffe, on the other hand, grew up a United fan and clearly has some emotional involvement behind this. His bid would also not be a complete takeover. The Glazers would still retain shares while allowing a majority share to be sold. Ratcliffe would then buy out their remaining shares at a very high premium in two years. Obviously, in 48-72 hours, Ratcliffe might be the last bidder standing.
Even on their way out, the Glazers have still continued to upset Manchester United fans. At every turn, they have not made the right decision, and we will still have to wait and see how this plays out.
