Man United takeover latest: Sir Jim Ratcliffe ‘remains confident’ despite ‘deadline delay’
Manchester United are still talks of a takeover after the club’s 0-0 Premier League draw with Southampton.
The second phase of the process is underway as Sir Jim Ratcliffe’s INEOS group and Qatari Sheikh Jassim bin Hamad Al Thani exited the indicative phase after publishing their proposals last month. They have also reportedly been joined by American hedge fund Elliott Management to advance their funding proposal.
The Raine Group continues to oversee operations on behalf of the Glazer family as the field begins to formalize. Here are the latest takeover headlines:
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Ratcliffe remains confident
Sir Jim Ratcliffe’s confidence in becoming the majority owner of Manchester United remains intact as the takeover process enters phase two, according to The Times.
So much so that INEOS has already “begun to identify a new technical and leadership team”. Sir David Brailsford became the group’s sporting director last year and is now leading a recruitment campaign that has already ‘opened talks’ across the board.
French INEOS club OGC Nice and Swiss club FC Lausanne-Sport plus have stakes in Ivory Coast-based team Racing Club Abidjan. The chemical company is involved in athletics, cycling, Formula 1, rugby and sailing.
Romano refutes Qatar U-turn
Journalist Fabrizio Romano insists Qatar’s Sheikh Jassim bin Hamad Al Thani’s takeover plans remain unchanged despite reports he is ready to pull out.
In an update on his YouTube channel, Romano gave his insight into the process: “As far as I know, the plan of the Al Thani family and Sheikh Al Thani is still the same,” Romano said [quotes via Football FanCast]. “He wants Manchester United. It is not true, as we have seen, that he is ready to leave the negotiations.
“As far as I understand it, he’s still 100 per cent involved at this point. He made the suggestion, he’s still working on it. Besides, the Al Thani family think their proposal is the best for the club – not only financially but also because they want to buy [100 per cent of the club].
Summer sale “more likely”
The Glazer family has reportedly adjusted their goals of approving an April sell-off and are now targeting a summer sell-off instead, according to the Telegraph.
In this timeline, any potential takeover would be completed after the end of the 2022/23 season but before the transfer window reopens in June pending an acceptable offer arriving in time. The newspaper reiterates that Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe’s bids currently fall short of the Glazers’ £5bn minimum valuation.
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