Old Trafford Stadium in Manchester (AFP Image)
The Glazers family, who bought Manchester United in 2005, had announced last year that they are exploring options for the Old Trafford-based outfit, including investment or a potential sale.
Manchester United’s potential takeover is expected to see some major movement this week with the two interested parties present at Old Trafford. It is being learnt that Manchester United officials will hold talks with Qatari banker Sheikh Jassim bin Hamad Al Thani and British billionaire Sir Jim Ratcliffe – the two known bidders. Ahead of the significant meeting, Sheikh Jassim appears to have taken a key decision which could very well influence Manchester United’s much-talked-about takeover process. A report published by The Sun claims that the Qatari banker has recruited US financial giant Bank of America’s representatives to decide the final valuation to purchase the Premier League outfit. The report states that enlisting Bank of America can help Sheikh Jassim in gaining an upper hand in the takeover.
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While Sheikh Jassim is willing to secure a full buyout of the club, Sir Jim Ratcliffe’s Ineos wishes to buy the Glazer family’s 69 per cent stake at Manchester United. According to experts, the due diligence phase could very well take around two months and hiring Bank of America officials may help Sheikh Jassim in earning a shortcut to the takeover process.
Raine Group, who are overseeing the takeover, approved the two bidders 10 days back. A report published by ESPN now claims that Raine Group have prioritised bidders who are interested in full takeovers.
Glazers, who bought Manchester United in 2005, had announced last year that they are exploring options for the Old Trafford-based outfit, including investment or a potential sale. Glazer family’s decision to sell Manchester United delighted fans and followers of the 20-times English champions. The American owners, who loaded Manchester United with hefty debt, have been brutally criticised by loyal supporters of the Red Devils.
Coming back to on-field development, Manchester United are placed in third position on the Premier League points table. With 15 wins and five draws, Manchester United have 50 points to their name in Premier League. Manchester United succeeded in ending their six-year trophy drought after claiming the Carabao Cup last month. In their next assignment, Erik ten Hag’s men will be facing Real Betis in the first leg of the Europa League round-of-16 on Thursday, March 16.
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