Manchester United‘s takeover is set to be delayed until May with the Glazer family reportedly holding out for a bid of £6billion after initial bids from Qatari investors and Sir Jim Ratcliffe were lodged at a maximum of £4.5bn.
An offer from Qatari Sheikh Jassim bin Hamad al-Thani, which is for full control, and a bid from British billionaire Ratcliffe to take a majority stake were lodged a fortnight ago but the hopes to conclude a deal by the end of March reportedly appear unlikely.
According to the Guardian, there is said to be an indecision between the six Glazer siblings with every member of the family having their own intentions around the sale of Manchester United.
However, the report claims that while it is the family’s desire to sell the club, a deal being agreed by the end of the month is now in doubt and will be pushed back until after the season finishes.
It comes after Sportsmail reported on Monday that those who bidded for the Old Trafford club are expecting to hear back from those running the process this week.
Man United’s takeover is set to be delayed until May because of indecision among the Glazers
The main bidders are Sheikh Jassim bin Hamad al-Thani (left) and Jim Ratcliffe (right)
A report claimed the Glazers feel that for a deal to be agreed by the end of March is unlikely
Sportsmail understands that US merchant bankers Raine Group are set to reach out to those who sent in offers to either buy or make an investment in the Premier League giants over the coming days, according to those with knowledge of the situation.
The development comes following another rough few days for the club’s share price. The figure rocketed when this newspaper revealed that a bid from Qatar would be forthcoming earlier this month.
However, following reports that owners, the Glazer family, are considering remaining in control of United at one stage on Sunday the price had dropped by around 13 per cent.
A ‘soft deadline’ for offers fell on February 17. Raine have been sifting through the bids ahead of the next process. Those in the running are expected to be given access to United’s full financials, after being given a glimpse following their initial expressions of interest.
It is unlikely that first offers will be accepted, with a period of negotiation set to follow. There is a belief that the Glazers are seeking around £6bn, a valuation some see as unrealistic.
As was the case with the bidding process for the sale of Chelsea, also overseen by Raine, some of the groups involved may be put into contact with each other with a view to forming consortiums.
Anti-Glazer sentiment has been commonplace at United matches this season but the volume was turned up during Sunday’s Carabao Cup final, with Avram Glazer present.
As United closed in on their first trophy in five seasons loud chants of ‘We want Glazers out’ could be heard from the United section, while some carried anti-Glazer banners.
Aside from offers to takeover the club, there are offers of investment which Avram and brother Joel could, in theory, use to pay off the other four members of the family and redevelop Old Trafford and the club’s training ground.
United hope to build on their success under new ownership after winning the Carabao Cup
How that would go down with supporters remains to be seen. Following United’s support for the subsequently-aborted European Super League, their match with Liverpool in May 21 was abandoned when protesting fans managed to break into Old Trafford.
Al-Thani, son of a former prime minister and chairman of one of Qatar’s biggest banks, is understood to have watched the game with family at his home in Doha. He is known as a United fan and friends say he wears the club’s shirt at weekly five-a-side matches.
Meanwhile, Sportsmail understands that there is some consternation among a number of the bidders that they are still to hear back following the deadline.
That feeling was exacerbated by reports over the weekend that bids for the club were under the Glazers’ valuation – which came after those in the process were told by Raine to keep quiet.
source: dailymail.co.uk
