Finance expert Kieran Maguire has revealed that the Glazers’ timing to announce Sir Jim Ratcliffe’s Manchester United deal was ultimately motivated by greed and selfishness.
After 13 months of dragging the takeover process, United confirmed on Christmas Eve that the Glazers had struck a deal for Ratcliffe to complete a partial 25% investment into the club.
The arrangement which is worth around £1.3 billion, will see Ratcliffe get full control of United’s sporting operations.
The INEOS billionaire is waiting for the Premier League to ratify his investment before he can officially start work at the Old Trafford outfit.
Last week, Ratcliffe and his close confidant, Sir Dave Brailsford, held a series of meetings with United’s non-playing staff at both Carrington and Old Trafford.
They also met Erik ten Hag and some of the players from both the men’s and women’s teams.
While most fans were pleased that the takeover had come to an end, the timing of the deal was peculiar. Gary Neville slammed the move to issue the announcement on Christmas Eve and explained that it wasn’t well thought out.
Kieran Maguire spoke to Football Insider and said that while the timing was shocking, it’s hardly surprising considering the Glazers and their reputation for only considering their own interests.
He said, “I was dressed up as Father Christmas when the takeover was announced.”
“The disgraceful timing of it all is indicative of the failure of the Glazers to take anybody’s priorities into consideration other than their own.”
“It has taken 13 months for the deal to get this far, the only reason it had to be announced at 4pm on Christmas Eve was that they wanted to put through the documents to the New York Stock Market on time on Boxing Day.”
“The lawyers certainly won’t complain and for the Glazers it’s one step closer to getting paid and getting their hands on cash.”
Maguire added, “It will be dressed up as a Christmas present for United fans but the timing represents the contempt the Glazers have for the club and the fans.”
All eyes are now on the Premier League and when they’ll give the green light to INEOS to finally get started at United.