With no rapid confirmation of a takeover, Manchester United may see instability this summer, according to reports.
Although Sir Jim Ratcliffe has been named as the preferred bidder to purchase the club from the Glazer family, The Sun reports that he has not yet obtained the go-ahead. As a result, the team is marooned in a situation of growing uncertainty as the summer quickly approaches.
It is widely acknowledged that this summer will be key for United since Erik ten Hag still has a lot of work to do to assemble his team the way he wants.
The Tottenham forward is reportedly one of the club's top targets, but the report suggests that the uncertainty surrounding the takeover may jeopardize their attempt to sign him this summer.
Defense and the midfield are other areas that need work, and David de Gea's status as Ten Hag's starting goalkeeper is in doubt. Even if delays in the sale process may considerably handicap United, it is anticipated that they will be among the Premier League clubs that are most active in the market this summer.
Due diligence cannot be performed by any prospective member of the club until the New York-based merchant bank Raine Group, which is managing the sale, notifies one of the parties that they intend to proceed. This is because of the legal fighting surrounding the transaction.
It is stated that thorough due diligence into accounts and other important areas might take up to a month, so it might be well into the summer before any successful party is able to make financial decisions.
Supporters have been even more enraged by the Glazers' apparent indecision throughout the process, which has seen three different offer deadlines since the new year and the first indication of a sale late last year.
Fans of the team argue that the stadium is a dilapidated shell of what it once was, and Cristiano Ronaldo revealed in a shocking interview with Piers Morgan last year that the Carrington facilities have not changed since he left the team for the first time in 2009.
The requirement for a sale to close before the summer has been made clear throughout the process, and much of the club's future strategy will rest on the months of June, July, and August.
Even the club's management, Erik ten Hag, admits he doesn't know how much money the club will have to spend this summer, making it unclear how the club's business would be impacted by the apparent delay in handing over the club.
I'm not sure, he said. "Man United is one of the biggest clubs in the world," is all I know.
But you need money to build squads because the caliber of your players determines whether you succeed or fail. High-level players are very expensive.
Yes, it's clear what I want, but it's not up to me, he said in response to the question of whether it would be preferable to know where he stands as soon as possible. It has to do with other club members. I'm concentrating on strengthening the squad and the growth of the team.
Joel and Avram Glazer's desire to stay at the club is alleged to have complicated the bidding process, which has dragged on throughout the entirety of this year.
If the Glazers choose Ratcliffe's offer, it may allow additional investors to participate in the process.
The purchase of a minority share in the club by American banks and financial firms like Carlyle has been the subject of persistent rumors throughout the bidding process.
An investment of this kind has been taken into account in the context of the Glazers maintaining overall control but also allowing new funds to flow in to upgrade Old Trafford and the club's Carrington base.
Ratcliffe's proposal is reportedly the one the Glazers will choose, which is sure to disappoint and possibly enrage some supporters.
The Glazers were about to leave Manchester for the last time and never come back at the turn of the year, marking an important turning point in the club's history.
Ratcliffe's bid, though, is thought to be set up so that they would stay at the club, albeit in a far lesser and less influential manner than they do now.
Before the team's most recent home game against Aston Villa, there were protests in which a sizeable contingent of fans voiced their support for the idea that the sale should signify an end to the previous 18 years.
However, according to a recent report by Sky News, a clause included to Ratcliffe's bid would cause their stay at the club to end by 2026.
According to their article, Ratcliffe's acquisition offer contains "put-and-call options that would become exercisable in 2026."
The "put-and-call arrangements" would "force the Glazers to sell their remaining shares to him or force him to acquire them," a source reportedly told Sky News.
The Glazer family would finally be removed from the equation if the clause were to be activated as early as three years into the agreement.
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