Man United shareholders ‘make final decision’ on Sheikh Jassim or Sir Jim Ratcliffe takeover today
Manchester United investors are reportedly putting pressure on the board to accept a takeover bid from Qatari billionaire Sheikh Jassim, who has made five offers for the Red Devils.
United’s owners The Glazers are still considering their options in the takeover process, though it is believed they prefer the idea of Sir Jim Ratcliffe taking charge. According to The Times, investors in United’s A-shares want the club’s directors to accept the Qatari offer.
Sheikh Jassim wants 100 per cent control of the club in order to take full charge at Old Trafford. The £6billion proposal from Ratcliffe, however, could see the Glazers stay on in a reduced capacity while organising their affairs.
The saga has been ongoing for eight months since the Glazers first confirmed they were open to a potential sale, and Ratcliffe confirmed he is still interested in the club. At a recent book launch, he said: “We have a good offer and we have met with the Glazers a couple of times.
“We have had good discussions with them. We would still very much like to do it. And we would be doing it for the right reasons. But in the end it is their decision not our decision.”
Ratcliffe, who already owns French club Nice, added: “Teams don’t come around very often. There are some special teams and the value of them tends to go up.
“The value of teams like this one is very special and rare – like art. I don’t think the world of sport will change that much in 10 years.
“It is one of our key interests – get the lads in the pub and football is one of the two or three subjects we ever talk about. It’s football. We’ve worked really hard all our lives.”
However, Business journalist David Hellier recently claimed that Ratcliffe’s bid is ‘dead in the water’ as United remain in limbo despite entering a crucial summer transfer window.
Hellier said: “I was picking up from advisors to Man United that his bid, as things stand, is dead in the water. I mean absolutely dead in the water.
“And the reason for that is he’s proposing a structure that would buy out the Glazers, the majority shareholders, and not offer anything to the minority holders. The minority holders are slightly aggressive funds, mainly in the US there are some in the UK.”
