Featured Image Credit: PA
Topics: Football, Manchester United, Erik Ten Hag, Premier League, Qatar
Chris Byfield
Topics: Football, Manchester United, Erik Ten Hag, Premier League, Qatar
The Glazers’ takeover deadline for the sale of Manchester United is set to be pushed back until the start of the transfer window in June, according to a fresh report.
In February Ineos owner Sir Jim Ratcliffe and Qatari Sheikh, Jassim Bin Hamad Al Thani made rival bids for a full takeover of United.
Their proposals came three months after the Glazer family confirmed they were open to selling the club, while also considering other options including “new investment”.
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Both Ratcliffe and Sheikh Jassim have made it through to the next stage of the takeover process, along with a third bidder - Luxembourg-based hedge fund Genevra Capital - who announced in a press release that they proposed taking a minority stake in the club.
Each is set to meet US investment firm Raine Group, who have been hired by the Glazer family to help broker a deal, at Old Trafford later this month.
However as reports continue to emerge of a Glazer family U-turn, the Telegraph has claimed the deadline for a potential sale has been pushed back to June.
The Telegraph claim the Glazer family have pushed back the deadline for a potential sale to the start of June. The United owners initially aimed to complete a sale before the end of April.
Indeed June is reportedly considered a more realistic time frame for an outright takeover to be completed.
Moreover, the Glazers are said to want at least £6billion for the Premier League giants - a fee that would make the Old Trafford club the most expensive sports team in history. However, offers from Sheikh Jassim and Ratcliffe allegedly fall short of that valuation.
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Next week, Sheikh Jassim’s bid and Ratcliffe’s Ineos Group will attend detailed presentations at Old Trafford, as both parties enter the next phase of the takeover process.
The Sun claimed earlier this week that the Glazer family are considering taking United off the market.
Instead, the American owners are said to be considering a scheme to make money from the club’s global fanbase.
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The Raine Group is understood to still be looking at a range of options and no final decision has been made. One option under “serious consideration” would be using external cash to create a new company to push the club’s merchandising and digital commercial operation.