After almost 18 years of pain, it seemed like the Glazers would finally sell Manchester United after almost running it into the ground while loading the club with debt over £500 million.
As reported by The Peoples Person, the takeover process had entered phase two of a three-step process with both public bidders Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani making the cut along with a third party.
A series of meetings are set to take place this month with the bidders set to meet club officials as well as with members from the Raine Group, who are overseeing the takeover process.
But according to i news, there is a growing feeling among everyone involved in the process that it is being delayed due to the uncertainty among the Glazer family with regards to selling the club.
It has been widely reported that detailed financial documents have yet to be shared with the bidders.
🗣️ ‘It’s taken a long time for very little to happen’
Latest update on the #MUFC takeover – and why it's moving along so slowly
🔴 Glazers 'undecided' on full sale
🔴 £6bn valuation a big sticking point
🔴 Key meetings in next fortnight
✍️ @MsiDouglas https://t.co/8qH4NLx2XN
— Evan Bartlett (@ev_bartlett) March 7, 2023
“No group has yet been granted exclusivity, which would enable detailed due diligence over the potential cost of stadium and training ground expansions and access to a wide spread of the club’s financial information.
“The reason? Those close to the process believe the Glazer family remain “undecided” about whether a full sale of the club is their desired outcome.
“They are rigorously investigating the intentions of bidders who have proposed buying a minority stake in the club,” the report added.
Minority stake has two-fold advantage for Glazers
A minority stake benefits the American owners in two ways. They could choose to retain majority control of the club due to the enormous monetary benefits.
And the other is that “a high bid for a smaller slice of the club will strengthen their hand when it comes to asking those bidding for full control to up their offers.”
The Glazers have been asking for close to £6 billion, which is vastly more than the market price, while both Ratcliffe and Al Thani bidding in the region of £4.5 million.
Both bidders want to get the deal over the line before the end of the season so as to find time to formulate a transfer strategy before embarking on bigger financial matters.