Manchester United have been in negotiations over a takeover since their Glazer family owners put the club on the market last November. And insiders have reportedly claimed a deal to sell a 25 per cent stake to Sir Jim Ratcliffe is in sight over the next fortnight but won’t be signed off at a board meeting this week. However, Sheikh Jassim bin Hamad Al Thani could still retain hope of completing a takeover as key figures inside the deal are sceptical that he has pulled out for good.
United’s takeover has dragged on for months, with Ratcliffe and Sheikh Jassim both submitting a series of bids and engaging in a string of talks with the club. But the Qatari banker appeared to clear the way for Ratcliffe to invest in the 13-time Premier League champions last week after withdrawing his offer.
With the board set to get together on Thursday in a pre-arranged meeting, there had been hope that Ratcliffe’s bid would be green-lighted there and then. But there are still final details to iron out.
According to The Telegraph, there remains some discussion over Ratcliffe’s likely £1.35 billion investment. Sources close to talks insist that the deal could take another two weeks to be rubber-stamped, with submissions ‘progressing at a clip’.
A well-placed insider has told the publication there will be “no decision this week”, with some figures unconvinced that Sheikh Jassim has completely disappeared from the takeover process. However, sources close to the Qatari have maintained that he informed the Glazers of his decision to remove his offer last week.
Ratcliffe is said to be keen to complete his deal quickly so he can oversee the club’s football operations during the January transfer window. And the INEOS owner is desperate for his deal to include a clause that would allow him to eventually complete a full takeover further down the line.
United’s ongoing takeover process has proved to be a major distraction both on and off the pitch this season, with Erik ten Hag’s side flattering to deceive in the Premier League and the Champions League.
The Red Devils have already lost to Tottenham, Arsenal, Brighton and Crystal Palace in the top-flight and have fallen to 10th in the table. The north west giants were also defeated by Bayern Munich in their opening Champions League match of the campaign before suffering a shock home defeat at the hands of Galatasaray in their second European encounter.
United are set to return to action on Saturday following the international break when they travel to Sheffield United.
