Home » Man United takeover remains on with the Glazers currently negotiating with “multiple parties”

Man United takeover remains on with the Glazers currently negotiating with “multiple parties”

by Derick Kinoti

The Manchester United takeover process remains ongoing, contrary to recent reports suggesting it had been effectively paused.

A report covered by The Peoples Person indicated that one of the principal bidders was convinced the Glazers had halted the club sale, with a view to extending their reign as custodians.

Almost 10 months after the American family announced their intention to seek strategic alternatives including a full or partial sale of United, they’re no closer to naming a preferred buyer.

Qatari banker Sheikh Jassim Bin Hamad Al Thani remains in close competition against INEOS billionaire Sir Jim Ratcliffe to complete a majority buy-out.

While Sheikh Jassim is interested in buying 100% of the Red Devils, Sir Jim has proposed an arrangement which would see him take control while retaining some of the Glazers as minority stakeholders.

Despite suggestions that the sale was off, The Daily Mail’s Mike Keegan explains that the process is still active.

“Negotiations are currently taking place with ‘multiple parties’ as the Manchester United takeover saga rumbles on,” Keegan says.

“There remains a confidence among some close to the Sheikh Jassim bid that they will prevail. However, neither group is thought to have got close to the £6bn that the Glazer are reportedly seeking.”

As per Keegan, there are genuine fears the Americans will take up the option of investment groups such as Elliott Management.

Such a move would theoretically give the Glazers the opportunity to undertake a refurbishment of Old Trafford and the Carrington training complex despite the fact that it would attract the wrath of supporters.

The Mail adds, “Mail Sport can also disclose that architects who have previously worked on a range of plans for such upgrades, which include the building of a new stadium, have not been asked to draft new, scaled-down proposals.”

It’s understood that when interested suitors were being taken through presentations on the financial state of the 20-time English champions, demonstrations by club officials were “bullish” as they factored in the prospects of reaping massive revenue from future ventures such as the new record kit deal with Adidas.

Despite the bidders now being the subject of a huge boost with the takeover still proceeding, there seems to be no end in sight in the near future for fans who have been hoping for a speedy resolution.

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