Manchester Utd takeover will provide £50m transfer boost for Ten Hag as Ratcliffe hope is revealed
Man Utd will be provided with a £50m boost to their transfer budget this summer if a takeover goes through, according to reports.
The Red Devils are still stuck in limbo regarding the possible takeover of the club with fans fearing it could impact negatively on their transfer business.
Qatar’s Sheikh Jassim and INEOS founder Sir Jim Ratcliffe are the two public bidders for the club with both parties submitting their third bids by the Glazers’ April 28 deadline.
Nine Two Foundation and Sheikh Jassim, who is the chairman of Qatar Islamic Bank and the son of a former Qatari prime minister, have since made two more bids with his fifth offer remaining on the table but he refuses to negotiate any further.
There were reports over earlier this week claiming that the Qatar bid had been a ‘success’ with an ‘announcement soon’ but CBS Sports journalist Ben Jacobs dismissed those claims.
On Tuesday, Jacobs wrote on Twitter in response to speculation: “Lots asking about reports Qatar has ‘won’ the #MUFC sale process. Understanding remains no group has been informed yet if they are successful. Expectation is the window will open without any formal announcement or clarity. Nothing expected in the next few days.
“Those close to the Nine Two Foundation are dismissive of reports saying they have won. Truth is they are still waiting to hear. Same for INEOS.
“Sale process is entering its final stages, but both groups essentially being prepped to have a deal ready to sign ahead of any potential green light. Both offers are already executionable.
But if Sheikh Jassim does complete a takeover of the club then Man Utd boss Erik ten Hag could be set for a £50m windfall for his transfer budget as the Qatari has promised to wipe out the club’s debt.
On Sheikh Jassim’s offer, the Daily Mail report:
‘It also comes with the promise that the ugly stain of debt – landed on the club following the Glazer’s leveraged buyout all those years ago – would be wiped clean
‘While symbolically that would be significant, it would also have an immediate effect on the amount Ten Hag can spend. At the last count the debt stood at £535.7m. Interest payments have to go on the books.
‘Removing that debt – and the prospect of further servicing – could give United as much as a £50m immediate boost.
But The Independent (via Manchester World) claim that Ratcliffe’s camp ‘remain positive’ about their chances of acquiring the club ‘despite the fact Qatar will likely outbid them in terms of cash value’.
