Latest update on Manchester United takeove: Majority stake vs Complete takeover; review, Sir Jim Ratcliffe admission as Sheikh Jassim suffers huge blow
Manchester United have managed to get their business up and running in the transfer market this summer, but progress continues to be slow off the pitch with the club’s prospective takeover.
Mason Mount became United’s first signing of the summer yesterday after the midfielder’s £55m move from Chelsea was officially confirmed by the club. It has given United fans a boost ahead of next season.
But the club’s takeover continues to rumble on in the background with little official indication of when it will conclude.
It was last November that the Glazer family announced their intention to explore potentially selling the Old Trafford club, but there have been no further public updates from United’s current owners on the situation and which avenue they intend to go down with a sale of the 20-time English champions.
Is Man united officially sold?
Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani are the two parties hoping to buy the club yet it’s still not clear which bidder will emerge successful.
The former bid is for a majority stake in the club, while the latter proposal seeks a complete takeover of the Old Trafford outfit.
Both Ineos and Sheikh Jassim have each tabled a collection of bids, with the latter presenting a fifth bid last month.
While the Qatari has continued to make big-money bids in an attempt to get a deal wrapped up, Ratcliffe and Ineos have taken a more reserved approach, patiently awaiting a decision from the Glazer family to be made.
“We obviously can’t say too much because we’ve signed a non-disclosure agreement (NDA) and we respect that but there’s still a process and we’re in the process,” said Ratcliffe, speaking at a Knightsbridge book launch.
We have a good offer – we’ve met the Glazers a couple of times and we had a good conversation but at the end of the day it’s their decision … we would still very much like to do it.
“I also believe we would do a good job and do it for the right reasons. We keep very focused on it.”