Manchester United’s takeover is likely to be finalized this week after Emir of Qatar, Sheikh Jassim bin Hamad Al Thani withdrew from the race to buy the club from the Glazer family.
Sheikh Jassim’s withdrawal from the race over the weekend has paved the way for British billionaire, Sir Jim Ratcliffe to acquire a 25 per cent shareholding from the Glazers, who own 69 per cent of Manchester United.
Ratcliffe, who is now the favourite to buy the club, will reportedly pay between £1.3 billion and £1.5 billion for the stake despite Manchester United’s current market value at around £2.6 billion.
It is understood that Ratcliffe was “more savvy in his deal execution” than rival bidder, Sheikh Jassim, who wanted a full takeover of the Premier League club from their American owners, the Glazer family.
NESUNPLUG reports that the Glazer family bought Manchester United for £790 million in 2005 in a highly leveraged deal that has been criticized for loading debt on to the club.
Man United have won 13 trophies, including five Premier League titles and a Champions League win in 2008 since the Glazers took over the club. They lost two Champions League finals, both against Barcelona, in 2009 and 2011.
The Glazer family have only spent £94million on improving infrastructure at the club in the last decade, according to financial analyst Kieran Maguire, who revealed this some few months ago.
NESUNPLUG reports that former Manchester United forward, Cristiano Ronaldo was dissatisfied with the facilities at the club before his contract was terminated by mutual consent last year.
On several occasions, it has been reported that Ronaldo has issued complaints to senior club officials regarding the state of amenities at Old Trafford and Carrington.
However, in November 2022, the Glazer family decided to put Manchester United up for sale.
But the takeover of the Red Devils has dragged on for several months.
Sheikh Jassim and Ratcliffe were the two frontrunners to buy the Premier League giants.
But with the latest development, Ratcliffe is set to complete a deal for a 25 per cent stake in Man United that could see him have control of sporting matters in the club.
Ratcliffe’s proposal is expected to be ratified over the coming days, meaning the 70-year-old could be in control of Man United’s business in the January window.
The Ineos chairman is expected to make significant efforts to get supporters onside and win over the fanbase by relying on his local background, while he intends to make Man United ‘the number one club in the world once again’.
When asked how the likely takeover could affects Man United’s fortunes both on and off the pitch under, Stanley Smart, a sports analyst, told DAILY POST: “Well, with the recent happenings regarding Manchester United, if Ratcliffe finally succeeds in his proposal of acquiring 25% of the club from the Glazers, then it would be a good one.
“If the terms of the deal could see him have total control of the club’s sporting business without interference from the American owners, I believe it would be a new journey for the club and their supporters.
“The Glazers have been in charge for many years. Personally, I would prefer a full takeover but so far they are not ready to exit the club.
“If the Glazers would not interfere and allow Ratcliffe run sporting matters, I believe it would go a long way to change the club’s fortunes both on and off the pitch. I think the time for change has come. Ratcliffe is British and he understands the club’s supporters. He would have an impact on the fans, the players, coaching staff and manager.
“He would also bring that stability that seems to be lacking at Old Trafford at the moment. Man United need to get the off-field talk back on the pitch just like in Sir Alex Ferguson’s era. The fans want good results on the pitch.
“They [Man United] will always be one of the biggest clubs in the world. Meanwhile, the Glazers have not done a bad job because the club is still successful on the field and off the field, but for me. I think now is the right time for somebody else to take over and I believe Ratcliffe would have a good impact on the club, sporting-wise.”
When asked whether the Sheikh Jassim’s deal would have been a better contract for Man United, Smart added, “Yes to some extent, I believe Jassim’s deal would be able to clear the club’s debt, make major structural changes both off and on the pitch and also invest a lot of money in the club.
“But one of my concerns is that can he bring the right people to manage the club’s sporting activities that would bring Man United in the spot-light again as one of the best clubs in the world?
“Also, Jassim’s deal would have been a big deal for the Glazers, but like I said earlier the American owners still wanted a stake in the club.
“However, I also believe that if given full control of sporting matters, Ratcliffe would do a better job because Man United requires leadership that enables a fairer, more inclusive and diverse game.
“They need leadership that builds a positive environment and culture at the same time as adhering to the club’s principles.
“They also need someone that is willing to make tough decisions to prevent an erosion in the club’s public image and Ratcliffe is capable of offering these things to the club.”
