Man Utd takeover latest: Jim Ratcliffe makes ‘failure’ claim, Glazers sent warning letter, debt increases

Manchester United fans are still eagerly awaiting a takeover, with the Glazers continuing to drag their feet.

It has been months since the Glazers announced they would be welcome investment into the club, and while they didn’t state that a full sale would be taking place, it was assumed that it would be the preferred option. A number of offers have been made, with two main bidders at this point, but there is still a complete lack of progress surrounding the situation.

That doesn’t mean there is no news, however, and with that in mind, we have rounded up all the latest news surrounding a possible Man Utd takeover.

Ratcliffe speaks out

Speaking to Ineos TV, bidder Jim Ratcliffe has issued his latest thoughts on the situation as he waits for a response from the club.

“The Manchester United bid would have been unthinkable two or three years ago if we hadn’t had some of the experiences - some quite difficult experiences with Laussane and Nice,” Ratcliffe explained.

“You can’t really contemplate acquiring a brand like Manchester United and failing because the failure is just far too public and excruciating in a deal like that.”

Supporters Trust send letter

The Manchester United Supporters Trust have sent an open letter to the Glazers amid stalling sale talks.

“If they are intending to remain as owners they must be made aware of the negative reaction that news is going to create and the continued chaos and disruption that their ownership will continue to elicit,” the letter read.

“Aside from that, there are a whole series of big questions they would need to answer: What is their plan to invest in United? Just what has the last nine months achieved? What costs have been incurred in this process?

“Are those costs being met by the Glazer family, or by the club itself? All in all, it’s been a process typical of their ownership of the club. Slow, opaque and increasingly looking like having a ‘worst case scenario’ outcome.”

Debt increases

United are now said to be in more than £1billion worth of debt for the first time.

The Glazers are said to be asking for as much as £6billion for United, but in the meantime, the club’s debt has increased from £969million to £1.005bn this year due to gross debt and unpaid transfer fees after a spending of around £200million in the summer window just gone.

United fans remain concerned about the club’s debt situation amid accusations that the Glazers do not have the club’s best interests at heart, leading to increased debt and borrowing.