Manchester United takeover deadline pushed to June amid reports of Glazer family U-turn
A recent report suggests that the Glazers’ deadline for the sale of Manchester United will be extended until the beginning of the transfer window in June. In February, Sir Jim Ratcliffe, the owner of Ineos, and Qatari Sheikh Jassim Bin Hamad Al Thani submitted competing offers for a complete takeover of the club, three months after the Glazer family announced they were open to selling the club or exploring new investment options.
All three bidders, including Luxembourg-based hedge fund Genevra Capital, have advanced to the next stage of the takeover process and are scheduled to meet with US investment firm Raine Group, which has been hired by the Glazers to broker a deal, at Old Trafford later this month. However, according to reports, the Glazers may have changed their minds, and the deadline for a potential sale has been moved to June, despite their initial aim to complete a sale before the end of February.
It has been reported that June is a more feasible timeline for a complete takeover of Manchester United. The Glazer family is rumored to be seeking a minimum of £6 billion for the Premier League team, a price that would make it the most expensive sports team in history. However, bids from Sheikh Jassim and Ineos Group, owned by Sir Jim Ratcliffe, are allegedly below that valuation. Both parties are scheduled to attend comprehensive presentations at Old Trafford next week as part of the next phase of the takeover process.
There are reports that the Glazer family may have had a change of heart and are now contemplating withdrawing United from the market. Instead, they are reportedly exploring ways to leverage the club’s global fanbase to generate revenue. The Raine Group, which has been tasked with brokering a deal, is said to be exploring various options, including creating a new company with external funding to manage the team’s merchandising and digital commercial operations. However, no final decision has been made yet.