The Manchester United takeover saga, driven by Sir Jim Ratcliffe, appeared to be nearing its conclusion with a prospective 25% ownership deal. However, hopes of a swift resolution have been dampened as the Glazer family, the current owners, have put a temporary halt to the process. This delay is causing speculation and anticipation to grow.
Ratcliffe’s Pursuit:
Sir Jim Ratcliffe, a prominent British billionaire, was on the cusp of acquiring a minority share in Manchester United, investing an impressive £1.4 billion. Following the withdrawal of his sole competitor, Sheikh Jassim, from takeover negotiations, the deal seemed imminent. However, the Glazers, the American owners of the club, have expressed the need to address several critical aspects of the agreement before its finalization, as reported by The Telegraph.
While those closely involved in the discussions remain confident that a deal will be sealed within the next two weeks, insiders within the club are suggesting that finalization might not occur until the beginning of the upcoming month.
A Change in Leadership:
Sir Jim Ratcliffe has made it abundantly clear that he aspires to take charge of the club’s football operations. In pursuit of this goal, he intends to enlist a team of experts to assist with the day-to-day management of the club. This strategic move places the positions of Chief Executive Richard Arnold and Director of Football John Murtough under potential scrutiny.
Currently, there are 12 individuals on the Manchester United board who will participate in the vote on the Ratcliffe offer. Nevertheless, the ultimate decision lies with the Glazer family. The Glazers maintain a 69% ownership of the club’s shares, yet their control is further consolidated by their possession of 96% of the voting rights, owing to the intricate dual share structure in place.
As the negotiations continue and anticipation builds, the fate of the Manchester United takeover remains uncertain, with the key decisions resting in the hands of the Glazer family.