Featured Image Credit: Sky Sports/Getty
Topics: Football, Manchester United, Sky Sports
Chris Byfield
Sky Sports journalist Kaveh Solhekol issued an update on the Manchester United takeover process.
The Times claimed this week that United’s poor start to the Premier League season was having a negative impact on the club's takeover process, with bidders less keen to meet the the Glazer family's asking price of more than £5billion.
The publication claimed however that discussions were continuing between potential buyers and the Raine Group, a New York bank acting for the Glazer family.
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The British petrochemicals billionaire Sir Jim Ratcliffe and a Qatari group fronted by Sheikh Jassim bin Hamad al-Thani remain the two favourites to purchase the club, but so far, their offers have not met the Glazers' valuation.
However, Sky Sports' Solhekol issued a positive update on Ratcliffe and Sheikh Jassim's attempts to buy the club, adding that the performances this season had not affected their interest in the club.
Solhekol said: “There is some good news this afternoon for Manchester United supporters who want the Glazers to sell the club.
“Sheikh Jassim of Qatar and Jim Ratcliffe, the British industrialist, both still want to buy Manchester United despite this sale process dragging on for ten months and despite problems at Manchester United on and off the pitch.
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“They’ve both made bids which value United at around £5billion. The Glazers at the moment are saying that’s not enough. They want higher offers.
"But one source is telling us this afternoon the longer they demand more money, the more the very asset they're trying to sell is being devalued.
"Of course the Glazers announced in November last year that they may sell Manchester United. United chief executive Richard Arnold told staff on Monday that the process is still ongoing.
"It's our information that as far as the two bidders are concerned, what is happening is on the pitch - United having lost three of their opening five Premier League games of the season - and also what is happening off the pitch, is not affecting their bids at all.
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"They still want to buy Manchester United, but of course they know that the Glazer family as a whole have not made up their made yet about whether they want to sell the club and also the valuation they have on the club is much more than anyone is willing to pay at the moment."
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