On Man United takeover latest: Sheikh Jassim and Sir Jim Ratcliffe’s position clear after £900m deal – Official announcement soon
Manchester United owners the Glazers are set to remain frustrated despite agreeing a £900million kit deal with Adidas. The mega-money agreement is unlikely to be the clincher as they seek out £6billion to sell the Red Devils, with Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe already clued in on the club’s finances.
United’s association with Adidas will continue until 2035 after agreeing the most lucrative kit deal in Premier League history. Such an arrangement highlights the club’s global influence and commercial appeal, which the Glazers hope will see them bank a higher price for selling up.
Neither Sheikh Jassim nor Sir Jim have submitted offers which value United at £6bn. And according to The Daily Mail, the Adidas kit deal is unlikely to change that given prior negotiations with Raine Group.
The US merchant bank overseeing the sale process gave takeover hopefuls detailed presentations on United’s financial state, which factored in foreseeable revenue increases such as kit deals.
As a result, both front-runners are expected to be unmoved by the £900m development as they wait for updates from the Glazers. It was reported earlier this week that the takeover process had been put on hold while the American billionaires weigh up their options.
However, it has since been claimed that negotiations remain active with multiple investment candidates. While Sheikh Jassim and Sir Jim are the key figures regarding a full takeover, the Glazers are reportedly yet to discount working with a minority investor instead.
Doing so would allow them to renovate Old Trafford and the training ground. They could also sit tight in Manchester until future revenue opportunities drive up demand until their £6bn price tag is more appealing to potential buyers.
United fans are desperate to see the back of brothers Joel and Avram, with their controversial 18-year stewardship prompting frequent protests. Sheikh Jassim’s full-scale buyout would be the only scenario in which the Glazers cut ties with the Red Devils completely.
The prominent Qatari banker’s takeover proposal would see United handed virtually limitless funds in the transfer market. Erik ten Hag led the Red Devils to third in the Premier League last season, although they were 15 points behind champions Manchester City.
The Dutchman has sought to remedy that by going after a wave of new recruits this summer. Andre Onana and Mason Mount are already bedding in at Old Trafford, while Rasmus Hojlund’s arrival is due to be announced this weekend.
