Featured Image Credit: Alamy
Topics: Manchester United, Football
Marcus Chan
Manchester United owners, the Glazer family, are reportedly ready to sell the club after confirming their preferred bidder.
Since November 2022, the Glazers have been exploring financial options as they put the Old Trafford club up for sale.
After three rounds of bidding, it was reported that the front runners were INEOS founder Sir Jim Ratcliffe and Qatar-based banker Sheikh Jassim bin Hamad al-Thani.
According to The Sun, US-based Raine Group, who are conducting the sale on behalf of the Glazers are set to confirm the ‘winning’ bid within the next few days.
The report claimed that Ratcliffe will be the Glazers’ preferred bidder ahead of Sheikh Jassim.
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It is believed that if Ratcliffe manages to secure the club, Joel and Avram Glazer could be sticking around as the INEOS boss’ bid was only for a majority stake.
In comparison, Shiekh Jassim offered to buy the whole club from the Glazers.
Despite Shiekh Jassim’s bid being the highest sum, it is believed that Ratcliffe’s offer valued United at a price that is closer to the Glazers’ asking price of £6 billion.
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Aside from Ratcliffe and Shiekh Jassim, it was reported that a few American financial firms have also offered to purchase a minority stake in the club which would allow the Glazers to remain in control whilst having the financial power to improve Old Trafford and the club’s training ground.
According to Sky News, Ratcliffe’s bid includes clauses that would see the Brit complete a full purchase of the Old Trafford club after just three years of taking control.
On the pitch, United are looking to secure Champions League football by finishing in the top four of the Premier League. Erik ten Hag also has the opportunity to win his second trophy as Red Devils boss as they take on Manchester City in the FA Cup final in June.