Manchester United takeover is on hold until May of 2023. The Glazer family are holding out for a proposal of £6 billion. After initial bids of £4.5 billion submitted by Qatari investors and Sir Jim Ratcliffe, they again increased their bid.
A deal before the end of March seems improbable. The Qatari Prince Jassim bin Hamad al-bid Thani’s for total control and British billionaire Ratcliffe’s proposal for 75% ownership.
The six Glazer brothers are splitting. Thus, each one of them has different ideas on how to sell Manchester United.
The family intends to sell the team. But, it’s now unclear if a deal will strike before the month is over or not until after the season.
It’s our understanding that US merchant bankers Raine Group want to get in touch with people. They will file offers to either buy or invest in the Premier League powerhouse.
The development follows another challenging few days for the share price of the club. The amount skyrocketed when this publication reported earlier this month that an offer from Qatar would be imminent.
Yet amid rumors that United’s owners, the Glazer family, were considering maintaining ownership of the team. And also the price may drop by roughly 13% at one point on Sunday.
The “soft deadline” for submission of bids was February 17. In preparation for the next procedure, Raine has been sorting through the proposals. Those who are still in the running should have access to United’s full financials after making their first interest known.
The acceptance of initial ideas may improbable, and a period of negotiation is likely to follow. Some people think the Glazers’ asking price of £6 billion is an unreasonable amount.
In order to create consortiums, some of the parties present may be in touch with one another, as Raine took with the Chelsea bidding process.
Manchester United takeover is on hold as the Glazer family wants to make a higher bid for the club
This season, anti-Glazer sentiment has been prevalent at United games, but it peaked at Sunday’s Carabao Cup final with Avram Glazer in attendance.
Loud shouting of the fans saying; “We want Glazers out” could be heard from the United section as they got closer to winning their first championship in five years. But on the other side, some fans brandished anti-Glazer placards.
How the supporters would react to it is still up in the air. Due to United’s support for the later-abandoned European Super League, the game against Liverpool on May 21 was canceled when protesting fans were allowed to enter Old Trafford.
It is believed that Al-Thani, who is the head of one of Qatar’s largest banks and the son of a former prime minister, watched the game with family at his Doha residence. He is a well-known United supporter, and according to pals, he sports the team’s jersey during weekly five-a-side games.
It is aware that some of the bidders are unhappy since they have not heard from anyone since the deadline.
The weekend’s disclosures that offers for the club fell short of Glazers’ value make this feeling much worse. Raine had previously instructed individuals involved in the process to remain silent.