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Topics: Manchester United, Erik Ten Hag, Premier League
Will Evans
A Manchester United insider has revealed the bizarre situation that is unfolding at Old Trafford regarding a potential takeover of the club.
United owners the Glazers announced back in November that they were exploring ‘strategic alternatives for the club including a full sale.
Interest has ramped up since then with bids from several parties including Qatari billionaire Sheikh Jassim bin Hama al-Thani and Ineos owner Sir Jim Ratcliffe.
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The club has now entered into a third round of bidding and the stall is worrying many supporters.
A preferred bidder still hasn’t been chosen and an insider involved in the process has recently shed light on the situation.
It is believed that the Glazers are no closer to deciding what path to take than they were in November.
In a conversation with inews, an insider close to one of the investors said: “It is all a bit weird.”
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“We have heard nothing and we can’t even get any answers from Raine.
“In a bidding process you normally get encouragement, or some form of dialogue, from the selling side. Instead, we are just getting silence.
There have been campaigns and protests for the Glazers to sell up ever since they completed their leveraged takeover of the club back in 2005.
That dissent increased back in 2021 when the club announced plans to join a proposed European Super League.
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Whilst that never came to fruition it continues to spark fury amongst many.
United are in need of major investment more so on the pitch than off it, with a complete stadium renovation or rebuild necessary.
Its become clear that the Glazers don’t want to finance this which is why they are seeking new investment, but that lack of developments is a cause for concern.
They have supposedly set an asking price of £6 billion which they might be holding out for.
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However, it’s not just the bidders who are being ignored. One of the investment firms offering finance to potential buyers or even the Glazers themselves aren’t getting anywhere.
It appears they want to hold on to the club for as long as possible, but if United want to reap the benefits of new owners ahead of next season then a takeover needs to happen soon.