The Glazers delay Man Utd takeover until the end of the season as they ‘hold out for £6bn sale’
It is now unlikely that any sale of Man Utd will go through before the end of the season as the Glazers look for a £6billion deal, according to reports.
Qatari banker Sheikh Jassim Bin Hamad Al Thani and Sir Jim Ratcliffe’s INEOS company publicly confirmed that they submitted bids to buy the club from the Glazer family before the soft deadline.
However, The Guardian claims that the bids were ‘lodged at a maximum of £4.5bn’ and that it ‘leaves the American family’s wish to close any deal by the end of March looking unlikely’.
That is because the Glazers are prepared to ‘hold out for a £6bn sale’ with the Guardian adding that ‘among the six Glazer siblings it is understood there is indecision because each has their own intentions but the sale is still under serious consideration by the family as a whole’.
The report continues:
‘The Glazers’ price is closer to £6bn but they may countenance an offer in between that and the existing bids. The family’s desire, though, to have any deal agreed in the next month appears in doubt, with a sale by the end of the season more likely as things stand.’
Ratcliffe, who is one of the UK’s wealthiest people with an estimated net worth of £12.5bn, has vowed to make Man Utd the “number one club in the world again” after launching his bid.
A statement released a fortnight ago read: “We can confirm that Sir Jim Ratcliffe and Ineos have submitted a bid for majority ownership of Manchester United Football Club.
“We would see our role as the long-term custodians of Manchester United on behalf of the fans and the wider community.
“We are ambitious and highly competitive and would want to invest in Manchester United to make them the number one club in the world once again.
“We also recognise that football governance in this country is at a crossroads. We would want to help lead this next chapter, deepening the culture of English football by making the club a beacon for a modern, progressive, fan-centred approach to ownership.
“We want a Manchester United anchored in its proud history and roots in the North-West of England, putting the Manchester back into Manchester United and clearly focusing on winning the Champions League.”
Like Ratcliffe, Al Thani, chairman of Qatari bank QIB, claims to be a boyhood Man Utd supporter.
He has indicated his offer would leave the Old Trafford club debt-free, in contrast to the Glazer family’s controversial leveraged buy-out in 2003.
Al Thani’s statement in February read: “Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club.
“The bid plans to return the club to its former glories both on and off the pitch, and – above all – will seek to place the fans at the heart of Manchester United Football Club once more.
“The bid will be completely debt free via Sheikh Jassim’s Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the club supports.
“The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world.”
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