Sheikh Jassim bin Hamad bin Khalifa Al Thani’s bid for Manchester United football club was on the verge of being accepted earlier this month, but division among the Glazer siblings stalled the deal.
That is according to Global Finance Magazine, who claim that mergers and acquisitions advisor close to the deal has told them that “getting the kids to agree” has proven to be the main issue with the sales process.
Joel and Avram Glazer are known to be open to an outcome that sees them maintain some level of involvement with the club, despite the disdain they have earned during their 17-year tenure at Old Trafford.
Meanwhile Glazers Kevin, Bryan, Darcie, and Edward are thought to be keen to cash in, with the Qatari bid offering them the perfect opportunity to step aside.
GFM notes that the process is into its eighth month, with the Glazers still holding out for a mammoth £6bn asking price, despite that figure valuing the club at up to eight times its annual revenue.
Global Finances source describes the entire operation as being “in shambles” due to the internal squabbles over the desired outcome, with tensions between the siblings over the negotiations making genuine progress impossible.
Whether the report is accurate in its assessment that United were agonisingly close to a full sale at the start of June is unclear, and it must be noted that their source erroneously claimed that there were five siblings involved in the club, omitting Darcie Glazer.
But it will no doubt fuel frustrations among the fanbase, with many having been led to believe that an end to the current ownership would be well in sight by April.
Instead, July is upon us, with Man United’s summer transfer plans firmly under a shadow of uncertainty cast by Glazer greed.
Yesterday’s report from The Peoples Person may at least provide some hope that a resolution will come.
Sheikh Jassim’s camp are thought to have grown in confidence that their bid will be accepted in due course, with a growing belief that an agreement will happen in “a matter of time.”
Manchester United’s closing share price of $25.12 on Wednesday may well be a reflection of that confidence, with shareholders expecting the Qatari bid for full control of the club to finally be accepted.
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