Manchester United’s owners, the Glazer family, are considering delaying their decision as to who will take over the club until at least the end of the season, according to a new report.
The principal bidders for United, Sir Jim Ratcliffe and Qatari businessman Sheikh Jassim Bin Hamad Al Thani, lodged their third bids for the club recently.
Amidst reports that Sir Jim was leading the race and would likely be named as the Glazers’ preferred bidder, Sheikh Jassim was said to have made an 11th-hour proposal to blow the INEOS billionaire out of the water.
The Peoples Person covered a report which estimated the value of Sheikh Jassim’s late offer to be around $7bn.
It was expected that the Glazers would make their decision and accelerate the process so as to allow the new owner to come in just in time to back Erik ten Hag in the transfer market.
However, according to ESPN’s Rob Dawson, the takeover saga is far from being concluded.
Dawson details, “Manchester United owners the Glazer family are considering delaying a decision about whether to sell the club until after the end of the season, sources have told ESPN.”
“Staff were told in March to expect “clarity” on the ownership situation by the end of the campaign at the latest but sources have told ESPN that there are now concerns the Glazers are delaying a decision until after the end of the season.”
“Manager Erik ten Hag is hoping for a successful summer transfer window after a positive first season in charge but that would be complicated by ongoing uncertainty over the club’s ownership.”
Dawson adds, “One of the reasons for the delay, according to one source, is that the Glazers are still trying to come to an agreement about their future with United, particularly because Joel and Avram Glazer are reluctant to give up their stake.”
As per ESPN, the Glazers are still considering offers for minority investments.
The likes of Elliott Management, Ares Management and Carlyle are keen to provide funding that would keep the American firmly in charge at Old Trafford.
For United fans and certainly Ten Hag, this is a nightmare situation. With only days left until the window opens, it’s still unclear who will be signing the cheques and sanctioning deals.
It goes to show again why the Glazers remaining at United in whatever capacity is a non-starter. That they are holding the club at ransom to squeeze as much money as possible from interested parties epitomizes the greed that has highlighted their tenure at the Theatre of Dreams.