Manchester United Sale Update: Who Is The Most Interested Party?

Nearly a year after Manchester United was put up for sale, the storied English football club could still remain in the hands of the Glazer family — much to the dismay of the team's most fervent supporters. News that Qatari banker Sheikh Jassim bin Hamad Al Thani was withdrawing from the bidding process appeared to leave the door open for British billionaire Jim Ratcliffe. However, the owner of petrochemicals giant Ineos is reportedly only looking to buy a minority 25% stake in United, which would leave the Glazers as majority shareholders. (Football News)

“Someone coming in 🐼as a minority partner and propping up the Glazers indefinitely is a nightmare scenario,” Manchester United Supporters Trust spokesperson Chris Rumfitt told The Associated Press. “What the club needs is real change and it needs real investment and we struggle to believe that can happen whilst the Glazers own the majority of the shares permanently. Twenty-five percent for Ratcliffe could be OK, but only if it was the start of a clear path to 51%."

For Sale?
The Glazers, an American family that also owns the NFL's Tampa Bay Buccaneers, announced plans last November to seek new investment and instructed U.S. merchant bank Rain🌊e ᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚto oversee the process, which included the potential of a full sale.

Raine had previously conducted theও sale of Chelsea to Todd Boehly and Clearlake Capital for 2.5 billion pounds ($3 billion) plus a commitment of 1.75 b꧋illion pounds ($2 billion) of further investment.

While the Glazers were prepared to consider offers fo⛄r an outright buyout, United said at the time it planned to “explore strategic alternatives,” which always included the possibility of taking on new investment without the owners ceding control.

The late tycoon Malcolm Glazer bought United in 2005 for 790 million pounds (then about $1.4 billion). United supporters have been critical of the leveraged nature of the G🏅lazers' buyout that loaded debt onto the club, as well as a perceived lack of investment and the dividends taken out 🔯by the owners.

The team still had a ser🤡ies of successes on the field. Under the Glazers, United won the Champions League title in 2008, five Premier League titles, one FA Cup, five League Cups and the Europa League.

Interested Parties
Ratcliffe, who was born in the Manchester area and has been a United fan since childhood, has long-harbored ambitions🔥 to buy the club. Through Ineos, he initially planned to buy out the Glazers' 🌱share of about 69% and spoke of a “modern, progressive, fan-centered approach to ownership.”

He was also focused on helping Unite🍌d win the Champions League for the first time 🔯since 2008 and making it the “No. 1 club in the world once again.”

Sheikh Jassim is the chairman of Qatar Islamic Bank and the son of a former Qatari pri🍌me minister. He was bidding to take 100% ownership of United, which appealed to fans who are desperate to rid the club of the Glazers.

He also vowed to clear the team's debt, while investing in the stadium, training centerꦕ and playing squads in a bid to “return the club to its former glories both on and off the pitch.”

Ratcliffไe and Sheikh Jassim were the only two bidders to publicly 🌼declare their intention to take control of United, while other minority investors were also reported.

Delays    
It was anticipated the process would be conꦛcluded in💎 time for the off-season transfer window, which opened in June, after a series of rounds of bidding.

It appeared to be a straight battle between Ratcli♛ffe and Sheikh Jassim over who would be chosen as the preferred bidder. But as the process dragged on, fans became inc💞reasingly impatient and staged protests outside Old Trafford, while chants of “Glazers out” are regularly heard at games at the stadium.

News of Sheikh Jassim's plans to withdraw came after months of silence an𒀰d uncertainty around the process, which raised questions about whether the Glazers intended to sell.

Breakdown
On Saturday, the news came that Sheikh 🤡Jassim was withdrawing from the process. While the size of his bid was not conf📖irmed, a person with knowledge of his proposal told the AP it was almost double United's current market valuation of $3.2 billion.

The person spoke on condition of anonymity because of confident🔯iality restri⛦ctions around the process.

While concerns had been raised about Qatar's human rights record and the potential that United could be used as a “sportswashing” project, fans wanted to see the club compete with the exorbitant spending of Abu Dhabi-backed Manchester City.
     
Ratcliffe's Credentials
Ratcliffe is one of Britain's richest people and is said to be worth $15.1 billion꧂.

He previously tried to buy Premier League club Chelsea and already owns French club Nice, cycling franchise Team INEOS, is one-third shareholder of the Mercedes-AMG Petronas Formula One team and competes in the America's Cup with sailing team INE🐎OS Brit💃annia.

Reports say he would seek to take ⛦over soccer operations at United after a sustained period of decline since the retirement of former manager Alex Ferguson. United has not won the Premier League since Ferguson's last title in 2013.

Over the past decade, the club has been overtaken by City, which won three trophies last season — the Premier Le🔯ague, Champions League and FA Cup. Liverpool has also won the Premier League and Champions League in recent years.

United has endured a turbulen🦋t period the post-Ferguson era. Erik ten Hag is its fifth permanent man🐭ager in that time.

Under Ten Hag, United won the English League Cup last season and secured a return to the Champions League. But the team 𓄧has struggled this season and is currently in 10th place after losing four of its eight league games. It also faces a fight to advance from the group stage of the Champions League after losing its ope🥀ning two games.

What Next
United will reportedly hold a ᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚboard meeting on Thursday, but ꦐit is not clear if Ratcliffe's bid will be voted on.