Manchester United’s current owners, the Glazer family, are expected to choose a preferred buyer for the club in the coming days.
The Peoples Person covered a number of reports which confirmed the submission of third and final bids from the two primary parties leading the race to buy the Red Devils – Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe.
Both Sheikh Jassim and Sir Jim lodged their bids to Raine Group before the Glazers’ Friday, April 28 deadline.
Sheikh Jassim’s offer stands at slightly just over £5bn. It is believed his debt-free proposal contains the promise of pumping significant funds into redeveloping Old Trafford and United’s Carrington training complex.
The Telegraph’s James Ducker reports that the Glazers will decide whether to sell United and to whom in the next few days.
Ducker says, “The Glazer family will decide whether to sell Manchester United over the coming days in what could be a watershed moment for Britain’s biggest club after final takeover bids were submitted on Friday night.”
“The next few days, as the Glazers consider their options, could influence the club’s direction of travel for years to come with a number of proposals on the table, including offers of minority stakes.”
As per Ducker, Sheikh Jassim is the favourite to land United as he seeks to buy the club in its entirety.
Ducker adds, “If successful, financial sources have suggested the Qataris would need at least a month to complete a buy-out of the Glazers’ 69 per cent shareholding but six weeks or more to acquire the 31 per cent stake held by an assortment of other investors.”
This means that the Glazers could be out of the club before the end of this season, while the rest of the buyout process concludes over the early summer.
The Telegraph points out that United fans are not the only ones waiting with bated breath to find out who is chosen and what course of action the Glazers take next.
Erik ten Hag himself is extremely desperate for clarity ahead of what is shaping up to be a crucial summer transfer window for the United boss and his team in terms of both outgoings and incomings.
Alongside Sir Jim and Sheikh Jassim, there are also a number of U.S-based investment groups keen to provide financing that would allow the Glazers to remain in charge or to acquire a minority stake.
Needless to say, such a scenario – in which the Glazers are still in control at Old Trafford – would be an unwelcome conclusion to the takeover process. At this point in time, only a full or majority sale to a suitor such as Sir Jim or Sheikh Jassim would be acceptable to most fans.