Man Utd owners the Glazers 'finally pick preferred bidder' as takeover deal edges closer
The Glazer family are believed to be ready to sell Manchester United as a potential takeover edges closer.
The Glazer family, owners of Manchester United, are reportedly getting closer to selling the club as a potential takeover deal is nearing completion. After a lengthy five-month process involving multiple rounds of bidding, the American billionaires have selected Sir Jim Ratcliffe and his company INEOS as their preferred bidder. The Raine Group, responsible for overseeing the sale, is expected to disclose the details of the successful bid in the coming days. This development has surprised some United supporters who had hoped for a takeover by Qatari banker Sheikh Jassim bin Hamad al-Thani, as they believed the Qataris would invest significant funds to revive the club's fortunes. However, Ratcliffe's bid focuses on "fan-centred ownership" and delivering a sustainable long-term future for Manchester United.
The club's fan base remains skeptical of Ratcliffe's vision, given the lack of progress seen at Ligue 1 side Nice since INEOS acquired them in 2019. Reports suggest that the Glazers prefer selling majority control of the club rather than a full sale. Sheikh Jassim has reportedly offered £5 billion to buy Manchester United outright, but the Glazers have been reluctant to accept, as it falls £1 billion short of their valuation. Ratcliffe's offer would allow the Glazers to maintain a 20% stake in the club while gradually exiting in the future through specific arrangements. Ratcliffe's bid is currently favored over competing offers, including one from American hedge fund Elliott Investment Management. The Glazers had announced their consideration of selling the club back in November and have been exploring investment alternatives. With the potential takeover now entering its final stages, it seems that the Glazers' tenure at Manchester United may be coming to an end.
blogpay
Total Comments: 0