Man United ‘face a chaotic summer with Sir Jim Ratcliffe awaiting official takeover bid confirmation and any ratification potentially spilling over into June… hindering a swoop for Tottenham talisman Harry Kane’
- Sir Jim Ratcliffe is seen as the preferred bidder to takeover Manchester United
- He could still be waiting some time before he is given the green light, though
- A delayed takeover with summer months approaching could carry implications
Manchester United face a potential summer of chaos with confirmation of a takeover not immediately forthcoming, it has been reported.
The Sun report that while Sir Jim Ratcliffe has been identified as the preferred bidder to buy the club from the Glazer family, he has not yet received the green light and as such the club finds itself marooned in a position of increasing uncertainty as the summer fast approaches.
It is widely accepted that this summer is a significant one for United, with Erik ten Hag still left with much to do to shape his squad in the way he envisages it.
The report claims that the uncertainty surrounding the takeover could scupper the club’s aim to sign Harry Kane this summer, with the Tottenham forward said to be among their top targets.
Other areas to improve include the back four and the midfield, while question marks hang over David de Gea’s place as Ten Hag’s No 1. It is expected United will be among the most active Premier League clubs in the market this summer, though they could be significantly hindered by delays in the sale process.
Sir Jim Ratcliffe is said to have been identified as the Glazers’ preferred bidder after six months
The club are in limbo over whether or not it will be sold this summer amid speculation the Glazers might remain
Targets such as Harry Kane could prove unattainable should issues surrounding the sale persist
Such is the legal wrangling surrounding the deal, due diligence cannot be done by any party into the club until the New York-based merchant bank Raine Group, who are overseeing the sale, notify either party of their wont to move forward.
Full due diligence into accounts and other key areas could, it is said, take up to a month meaning it could conceivably be well into the summer by the time any successful party is able to make financial decisions.
The Glazers’ seeming indecision throughout the process, which has seen three separate bidding deadlines since the turn of the year, with the announcement of a sale first being made late last year, has infuriated supporters even further.
Fans of the club complain of a stadium that is a crumbling relic of its former self, while Cristiano Ronaldo in his bombshell interview with Piers Morgan last year detailed how the facilities at Carrington had not improved since he first departed the club in 2009.
The need for a sale to be completed in advance of the summer has been outlined throughout the process, with much of the club’s strategy moving forward depending on the June, July and August periods.
How the seemingly delayed handing over of the club impacts upon the club’s business is unclear, with even Ten Hag, the club’s manager, admitting he is in the dark about the club’s spending power this summer.
‘I don’t know,’ he said. ‘The only thing I know is that Man United is one of the biggest clubs in the world.
‘But you need funds to construct squads because the level from your players decides if you are successful or not. High-level players cost a lot of money.’
The Ineos billionaire is one of two parties, alongside Qatari Sheikh Jassim bin Hamad Al Thani (above), who are thought to be leading the bidding war
Asked if it would be better to know where he stands as soon as possible, he replied: ‘Yeah, it’s clear what I want, but it’s not up to me. It’s about others in this club. I’m focusing on improving the squad and the team development.’
It is said that complications have emerged throughout the bidding process which has dragged on for the entirety of this year owing to Joel and Avram Glazer’s desire to remain at the club.
Should Ratcliffe’s bid be the one the Glazers’ move forward with, it could open the door to other investors entering the process.
There have been consistent murmurings throughout the bidding process of American banks and financial institutions such as Carlyle purchasing a minority stake in the club.
Such an investment has been considered within the context of the Glazers’ keeping overall control, while also allowing fresh revenue in to improve Old Trafford and the club’s Carrington base.
The reports suggesting Ratcliffe’s bid is the one the Glazers will opt for is likely to disappoint, and perhaps anger, certain sections of the support.
This sale process was celebrated at the turn of the year as a significant juncture in the club’s history, with the Glazers set to depart Manchester for one final time to never return.
However, Ratcliffe’s bid is believed to be structured in such a way that they would remain at the club – albeit in a much smaller, and less powerful, capacity than they enjoy currently.
Protests were seen ahead of the club’s most recent home match against Aston Villa in which a significant section of supporters made their voices be heard that the sale should mean a clean break from the previous 18 years.
Erik ten Hag has admitted he is none the wiser about the size of Manchester United’s transfer budget this summer
Nevertheless, a recent report by Sky News suggested their presence at the club would cease by 2026 owing to a clause inserted into Ratcliffe’s bid.
They reported that Ratcliffe’s takeover bid includes ‘put-and-call options which would become exercisable in 2026’.
A source reportedly told Sky News that the ‘put-and-call arrangements’ would ‘force the Glazers to sell their remaining shares to him or force him to acquire them’.
The clause could be triggered as little as three years into the deal and would ultimately push the Glazer family out of the picture.
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