It appears that the Man Utd takeover may finally be coming to an end, as reports indicate that Sir Jim Ratcliffe has ‘taken the lead’ over Sheikh Jassim.
Sheikh Jassim Bin Hamad Al Thani, a bidder for Manchester United (Image: PA)
Sheikh Jassim’s chances of completing a takeover at Manchester United have decreased, if the most recent reports are to be believed.
After the Glazers declared they were seeking strategic alternatives in November of last year, the Qatari banker made their initial bid for the team back in February.Although British billionaire Sir Jim Ratcliffe has stayed firmly in the race, Sheikh Jassim emerged as the early front-runner.
After those February bids, there were multiple rounds of bidding until the Sheikh made a fifth and final offer for United in June. He did this after determining that the current owners and the Raine banking group, who is handling the sale process, had had enough time to ask for clarification or to revise his offer.
But it seems Sir Jim has been more accommodating. Though it has long been speculated that the Glazers might stay involved in some way after the INEOS owner takes over, new reports indicate he may be willing to take an initial 25% share in the team before a possible phased takeover.
The Glazer family currently views Ratcliffe’s bid for a minority stake as more attractive than an alternative Qatari offer for the whole club, according to a follow-up Bloomberg report published on Thursday night. It also said that ‘as soon as the next few days’, United’s board could meet to discuss the most recent proposal.
That could be concerning news for Sheikh Jassim if it’s accurate. You can’t really contemplate acquiring a brand like Manchester United and failing because the failure is just far too public and excruciating in a deal like that, Ratcliffe stated in a recent interview with INEOs.TV.
Although it is obviously not ideal to keep the Glazers around, Sir Jim seems eager to take any necessary steps to become involved with the club he has supported since he was a young boy. And it seems like his most recent endeavor is tipping the scales in his favor.
It was mentioned in the Bloomberg report that the Qatari group could still increase its bid because the situation remains fluid.” Right now, it appears that Sheikh Jassim might have to raise his offer in order to obtain a takeover.
Ratcliffe may need to move fast because United’s board may meet to discuss his offer in the coming days.
