The potential sale of Manchester United has entered the critical stage and months after announcing that the Glazer family were open to partial or full takeovers, there have been two major public bidders for the club.
Sir Jim Ratcliffe’s INEOS firm have tabled two bids to acquire the club, as has Sheikh Jassim’s Qatari consortium. Despite making separate bids in two rounds of offers, none of the offers tables are believed to be enough to tempt the Glazers just yet, however.
The Glazer family have held a majority stake in the club since 2005, originally investing in 2003. Since then, the club has been allowed to be overtaken by their rivals and an uncontrollable downward spiral was sparked the moment the Glazer family assumed control.
Now, it is being claimed that despite the supposed takeover reaching an advanced stage, bidders involved in the process are beginning to fear that the Glazer family could back out and claim that their asking price was not met.
That’s according to the Guardian, who say that all bidders, who submitted offers just under two weeks ago, are still waiting to hear from Raine Group, the firm employed to negotiate on behalf of the American owners.
As per the report, at least one bidder involved believes that the Glazers, which includes all six siblings, could instead opt to keep their shares and argue that a banking crisis is preventing them from maximising their profits.
SN’s verdict…
The very public nature of the sale of the club has meant that supporters have, possibly, allowed their hopes to travel just a tad too much. The idea that the Glazer family would be pulling out at the 11th hour is a nightmare for supporters.
Make no mistake about it, the future of the club rests solely on the Glazers parting ways and allowing new blood to come in and lead the Reds into an era of change.
Over the last 20 years, there have been no indications that the Glazers are capable or even willing to improve the club.