Nearly a year has passed since the Glazer family put Manchester United up for sale, but a lot of questions still remain regarding the Americans' plans going forward
22:41, 13 Sep 2023Updated 22:57, 13 Sep 2023
While Sir Jim Ratcliffe still believes the Glazer family want to sell Manchester United, his rival bidder Sheikh Jassim bin Hamad Al Thani is understood to be less convinced.
The Glazers have been owners of United since 2005, but a statement in November last year indicated they were open to offers. After a lengthy process, British billionaire Ratcliffe and super-rich Qatari banker Sheikh Jassim emerged as the last men standing. A deal has yet to be concluded and even now, as fans of the club wait for a resolution, there appears to be a divide between those pushing for a deal.
According to The Guardian, neither party is desperate to set a deadline on a takeover. However, the same report indicates Sheikh Jassim's representatives are no longer sure of the Glazers' plans.
Earlier in the week, Ratcliffe spoke to INEOS.TV about the state of play. The businessman, who has dipped his toe into football ownership in France and Switzerland, is a self-described United fan whose takeover strategy is said to include allowing Joel and Avram Glazer to retain a temporary stake in the club.
“The Manchester United bid would have been unthinkable two or three years ago if we hadn’t had some of experiences — some quite difficult experiences with Lausanne and Nice," the 70-year-old said. "You can’t really contemplate acquiring a brand like Manchester United and failing because the failure is just far too public and excruciating in a deal like that.”
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"Manchester United plc, one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors is commencing a process to explore strategic alternatives for the club," United's November 2022 statement read. "The process is designed to enhance the club's future growth, with the ultimate goal of positioning the club to capitalise on opportunities both on the pitch and commercially.
"As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company. This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global scale, each in the context of enhancing the long-term success of the club’s men’s, women’s and academy teams, and bringing benefits to fans and other stakeholders.
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"Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer said “The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers. As we seek to continue building on the Club’s history of success, the Board has authorised a thorough evaluation of strategic alternatives.
"We will evaluate all options to ensure that we best serve our fans and that Manchester United maximises the significant growth opportunities available to the Club today and in the future. Throughout this process we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders.”
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