Manchester United is up for sale, and the Glazers are reportedly looking for a whopping £6bn. Sir Jim Ratcliffe and Sheikh Jassim bin Hamad al-Thani have been given a 10-day deadline to submit improved offers for the club. Representatives of both parties are due in the north-west over the next 72 hours to hold a further round of talks with the club over a proposed takeover.
Both parties have been cleared through to the second round of the process, when United will allow interested bidders to view the club’s accounts. United hope their presentations will convince the interested parties that the club is worth the Glazers’ asking price and that the club is yet to fully monetise all available revenue streams.
Ratcliffe has bid around £4bn for the Glazers’ 69% working majority, while Sheikh Jassim’s bid is believed to be worth around £4.5bn and for total control of the club. This week’s visit is an opportunity for the interested parties to view United’s iconic home and training ground up close, with both in need of significant investment.
A renovation of Old Trafford will cost around £1bn, while an entire new build would come to around £2bn. Once all of this is taken into account, interested parties will be told to submit new bids by the end of the month. The Glazers will then consider all offers, with the Americans hoping that unnamed bidders will drive the price up.
The sale of Manchester United has been a long time coming. The Glazers have owned the club since 2005, and their tenure has been marked by controversy and protests from fans who believe that they have prioritised profits over success on the pitch. The Glazers’ ownership has also been marked by debt, with the club owing around £500m to lenders.
The Glazers have been criticised for their lack of investment in the club, with many fans believing that they have failed to keep up with rivals such as Manchester City and Liverpool. The club has not won a Premier League title since 2013, and their performances on the pitch have been inconsistent in recent years.
The sale of Manchester United could be a turning point for the club. If a new owner is able to invest in the team and bring in top-quality players, they could once again become a dominant force in English football. However, it remains to be seen who will take over the club and what their plans for its future will be.
For now, fans will have to wait and see what happens over the next few weeks. The sale of Manchester United is likely to be one of the biggest stories in football this year, and it could have a major impact on the sport for years to come.