REVEALED: Manchester United’s new owners might not be in place before the start of the season with a preferred bidder STILL not chosen… but there will be no impact on Ten Hag’s £120m budget
- Mail Sport understands that a bidder has not been chosen in United’s takeover
- Sheikh Jassim bin Hamad al-Thani and Sir Jim Ratcliffe remain as frontrunners
- Reports had suggested that the club’s sale to Sheikh Jassim was edging closer
Manchester United’s new ownership may not be rubber-stamped when the club kicks off the new season.
The club and its fans are currently waiting to hear whether Qatari Sheikh Jassim bin Hamad al-Thani or British billionaire Sir Jim Ratcliffe have won what has become a long-running battle for control.
As of Thursday night, no preferred bidder had been chosen. And Mail Sport understands should the Glazers decide who they want to sell to, a further eight to 12 weeks ‘approval process’ would follow before a deal is officially approved.
That means that when Erik ten Hag’s men start the 2023-24 campaign against Wolves at Old Trafford on August 14, the Glazers – deeply unpopular with large sections of the club’s fanbase – may well still be technically in control.
Any successful bidder will be subject to an approval and closing process and there will be no impact on United’s summer transfer business. As Mail Sport reported yesterday, Ten Hag’s transfer budget has been set at around £120m. That is open to change depending on how much he can bring in from selling players.
Sir Jim Ratcliffe (L) and Qatari Sheikh Jassim Bin Hamad Al Thani (R) have battled it out over the takeover of Manchester United
Mail Sports understands the Glazer family (pictured) are yet to decide on a preferred bidder
United have to operate within strict financial controls, with permitted losses at the forefront of their actions. A significant overspend last summer, coupled with Covid-affected revenues, is proving to be restrictive.
Yesterday, supporters were whipped up into a frenzy by a report in the US which appeared to claim that United were ‘negotiating granting exclusivity’ to the Qatari group.
Those claims – which saw United’s share price surge 15 per cent on the New York Stock Exchange – were widely dismissed by those with knowledge of the process. However, a firm in the name of Nine Two Foundation UK – which is the vehicle Sheikh Jassim would use to buy United – was registered at Companies House.
It is thought that the move was not an indicator of any decision, rather a logical step to ensure the necessary plans were in place should the Qatari group be successful.
Earlier this week, Mail Sport reported how both bidders were finalising deal details with Raine, the US merchant bank handling the process. Each offer is thought to value United at north of £5bn but not the £6bn the Glazers are reportedly seeking.
A decision is expected imminently, although the approval process will delay matters further.
The delay in United’s takeover will have little impact on Erik ten Hag’s summer transfer budget
Source: Read Full Article
