Man Utd takeover latest: Jim Ratcliffe makes Glazers admission amid fresh debt concern

Manchester United fans are still patiently waiting for a takeover to be completed as the situation continues to rumble on into the summer.

It was once hoped United would have new owners in place for the new season, but it has become clear that this is a process that will take some time to be finalised, even if we are much closer to finding out who might be at the helm at Old Trafford in the the not so distant future. Jim Ratcliffe and Sheikh Jassim continue to battle it out for control of the club, but the Glazers are currently taking their time.

Here we round up all the latest surrounding the possible takeover.

Ratcliffe admission

Jim Ratcliffe is said to have been ‘charmed’ by the Glazers after meeting to discuss the purchase of United.

Ratcliffe has spoken highly of how the Glazers have conducted themselves in personal meetings in the past, and The Times now say the English billionaire has been left impressed again after his latest exchange with the Americans. Ratcliffe remains in limbo with his bid, with the Glazers yet to decide who they will go with.

Recent reports have suggested Sheikh Jassim might be the frontrunner, but the race still appears to be wide open between the two.

‘In the dark’

Ben Jacobs has provided an update on the takeover situation.

“At the moment, nothing is progressing on the INEOS side even though it hasn’t been communicated to them that they’re formally out of the race,” Jacobs told GiveMeSport.

“In fact, quite the opposite. Many insiders are adamant that they’re still there. So, this would also suggest that Qatar can be somewhat more positive, but also sceptical because they’re in the dark as to the Glazers’ intentions.

“So, from Qatar’s perspective, they either think they’re going to win or it will be a no sale and from Ratcliffe’s perspective, the group are going to have to work out how they can get Board approval, if they are to proceed. Otherwise, they could be out of the race.”

Debt concern

Finance expert Kieran Maguire has raised concern over United’s debt amid likely signings this summer.

Maguire told Football Insider: “The existence of such large debt 18 years after being acquired by the Glazer family is indicative that they have been happy for others to supply the investment into the club. With interest charges exceeding £900million during that period, it has had an impact on the ability of the club to compete in the transfer market.

“There is no evidence that they are in a rush to sell the club either, which of course is going to have a knock-on effect in terms of transfers. The Glazer family have been big winners from their ownership period of the club along with the accountants and the bankers. It can be increasingly argued that the fans are certainly not in that bracket.“