Manchester United’s protracted takeover process looks set to run beyond next week as Sir Jim Ratcliffe and INEOS’ wait to enter power at Old Trafford continues. And reports claim the Glazer family are fuelling the delays, a common theme for Sir Jim, Sheikh Jassim bin Hamad Al Thani and other parties throughout the year-long saga.
The American owners announced their strategic review last November, launching a search for alternative investment opportunities.
Several months after entering the race, Sheikh Jassim withdrew his £5billion bid for a 100 per cent sale in October due to doubts over the Glazers’ intentions to cash in.
Sir Jim outmanoeuvred his Qatari rival by tweaking his pursuit and targeting a minority stake, allowing the Glazers to retain the majority of the club while transferring sporting control to INEOS.
The 71-year-old has been expected to secure a 25 per cent stake in United for the last few weeks, but no confirmation has arrived due to continued delays.
Reports this week suggested the £1.3billion deal was set to be ratified early in the next, with a desire to unveil Sir Jim before Tuesday’s must-win Champions League clash against Bayern Munich.
However, the Mail claim it will more likely be the week after, leading up to Christmas Day, thanks to legal structural matters.
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According to The Athletic, the prolonged wait results from the Glazers taking their time due to the volume of paperwork, legalities and the complexity of such a significant deal.
The Glazers’ inability to make quick decisions has become one of the most frustrating aspects of their rule for supporters.
That is down to United being a UK club registered in the Cayman Islands, listed on the New York Stock Exchange and helmed by six siblings based in the United States.
However, there is optimism that once Sir Jim and INEOS inherit sporting control, a more streamlined system will be in place at Old Trafford.
Many will hope the Failsworth-born businessman will prove to be a better choice than Sheikh Jassim, who failed in his attempts to overthrow the Glazers completely.
United could soon see the reality of the Qatari banker investing in another club, based on reports in Italy.
La Repubblica claim Sheikh Jassim is set to enter talks about a potential investment in Serie A giants Inter Milan.
Inter owner Stevan Zhang is currently in China facing lawsuits and debt repayments of up to £340m owed to Oaktree, an American firm.
Sheikh Jassim’s funding would help support the San Siro outfit and could end some supporters’ hopes of the boyhood United fan reigniting his interest down the line.
