Manchester United’s takeover process continues to drag on but the stock price has risen modestly.
The Glazer family have explored ‘strategic’ opportunities in the market for the past 8 months, but appear undecided over which offer from the two main bidders they prefer.
Sheikh Jassim bin Hamad Al Thani and INEOS’ Sir Jim Ratcliffe are in a two-horse race to take control at Manchester United.
Qatari banker, Sheikh Jassim, wants to buy 100% of the club while reports suggest Sir Jim Ratcliffe is happy to keep the Glazers on board for a few years, albeit with with a much smaller stake and say in how the club is run. It is thought the Mancunian businessman would buy 60% of United – potentially leaving Joel and Avram Glazer to remain.
However, despite the takeover dragging on, United’s shares had risen to $24.40 at close on Monday (via Manchester Evening News).
Jack Flintham reports: “Over the course of the past five days, this shows a 3.45 per cent increase which is not hugely groundbreaking. Between Thursday and Friday last week, we saw the biggest rise over the past few days as the share rose from $23.97 to $24.78 in less than 24 hours.”
We have been waiting for major updates on this story for some time and it doesn’t help that we’ve got former players trying to manipulate the situation for fans by spreading crap on their YouTube shows.
Rio Ferdinand has done it repeatedly over the summer and I’m just waiting for the moment when he comes out in a Qatari-themed United flag. It shouldn’t come as a surprise that his updates have been bogus over the takeover, though we can’t accuse him of guesswork because he was making friends in Qatar over the winter.
In his latest video via FIVE, Ferdinand hinted that the process may be speeding up in the near future as he discussed the issue with presenter Joel Beya, who seems to think the former United centre-back is involved in the situation.
Beya said: “You know what it’s funny because there’s definitely some takeover news happening.
“I know you can’t say too much for whatever reasons, we spoke off air [Rio laughs], but even from someone that’s not in it as much as you I am hearing some big things happening tomorrow (Tuesday).
“So once that happens we can have another conversation as well.”
Ferdinand responded: “I was talking to (David) Ornstein as well. Man he’s got good knowledge as well but we’ve got good sources so.”
Beya added: “Stay tuned on this one.”
These questionable updates result in viral soundbites for social media accounts (prime example: @FIVEUK) and media outlets pick up on them too. This also tends to have an impact on United’s stock price…
👀 Are we about to hear news regarding the Man Utd takeover soon?? 🔴💰
CC: @rioferdy5 @joelbeya #MUFC pic.twitter.com/nBspfDgzTT
— FIVE (@FIVEUK) July 3, 2023
Does Ferdinand have anything else to gain from all of this unhelpful speculation bar social media engagements? I wonder.
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