Football Digest: Man Utd with work to do after sluggish start
The Raine Group are actively working on overseeing a Manchester United takeover as the process continues to be delayed over the Glazer family’s valuation, according to reports. Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe haven’t yet reached the Glazers’ asking price, which has left a sale in doubt.
Almost three months have passed since Sheikh Jassim submitted a fifth and ‘final’ bid to rival Ratcliffe’s in the takeover race.
The two parties emerged as the leading candidates for a takeover after the Glazers announced a strategic review last November.
But the saga has plunged into silence after both bids – reportedly just over £5billion – fell short of the American family’s £6bn demands.
On Tuesday, The Sun reported that Qatari banker Sheikh Jassim was set to complete a takeover at Old Trafford as his representatives complete their due diligence.
The report claims a sale could go through by mid-October, with the date pencilled in for a potential announcement as early as next month.
But other outlets on Wednesday poured cold water on suggestions that Sheikh Jassim had won the United takeover process.
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The Mail state that there has been no real movement on the situation, and there has been little to indicate that a sale is imminent.
It’s alleged that the Glazers haven’t yet selected a winner, and negotiations are ongoing with numerous interested parties over a full sale, majority investment, or minority investment.
Neither of Sheikh Jassim and Ratcliffe’s bids are said to be at the level the Glazers are willing to accept.
However, the report notes that Raine are currently working to bridge the gap between the bids and the Glazers’ hefty valuation, indicating hopes of a takeover are by no means dead.
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United supporters continue to protest heavily against the US-based family’s ownership after 18 years of a lack of personal investment and withdrawn funds in dividends.
Hundreds of fans stood outside Old Trafford with large banners and green and gold smoke before last Monday’s Premier League opener against Wolves to start another season of protests.
And fan group The 1958 have organised a 60-minute sit-in after Saturday’s clash with Nottingham Forest, where hundreds are expected to remain in their seats after full-time.
There doesn’t yet seem to be light at the end of the tunnel in the takeover saga, but there continues to be movement behind the scenes to reach a resolution.
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