Sir Jim Ratcliffe’s reduced bid for a minority stake in Manchester United has reportedly failed to impress investors in the club. The Glazers have frustrated United fans over their prolonged process in looking to sell the club.
Their eye-watering asking price of £6billion has not yet been met by either Sheikh Jassim bin Hamad Al Thani or Ratcliffe, who emerged as the frontrunners to complete a full takeover at Old Trafford. Several updates throughout the past 10 months on United’s search for a new owner has had big impact on the club’s stock price on the New York Stock Exchange.
A fake report from earlier this summer claimed that Sheikh Jassim had been successful in his bid to buy United saw the club’s stock price rise by nearly 25 per cent. The price has since steadied at around $19, although the price is still significantly higher than where they traded prior to a potential sale being touted.
That’s largely been to a lack of movement in United’s takeover process with both Ratcliffe and Sheikh Jassim seemingly backing off. But reports broke yesterday claiming the British billionaire is considering changing his offer to acquire a minority stake in United.
His reduced bid, said to be for 25 per cent of the club, would see the Glazers maintain full control of United. And proactive investors report that the new reported offer from Ratcliffe has failed to move the needle on United’s stock price.
United stock was said to be trading just 0.2 per cent higher at $19.45 in early premarket dealing. The current stock price values the Old Trafford outfit at around £3billion.
Sheikh Jassim is not thought to be out of the running completely to try and complete a majority takeover of United. And United icon Gary Neville would not be against the Qatari banker taking over the club.
“I am not opposed to ‘State Clubs’,” Neville said. “I have not opposed Newcastle or Manchester City. I think United will be under greater scrutiny because the size of the club is enormous.
“The reality is that Abu Dhabi has owned Manchester City for 15 years, so I think the important thing in English football is the regulation of the owners, not only of the ‘state-clubs’, but also of the venture capital funds that are entering the Premier League to exploit English football.”
