Man Utd takeover latest: Next step revealed as prospective buyers ‘set for’ Old Trafford

The latest takeover news from Manchester United
Watch more of our videos on Shots! 
and live on Freeview channel 276
Visit Shots! now

Manchester United’s search for new ownership is well underway as we approach four months since the Glazer family put the club up for sale.

The United faithful have long been calling for the controversial family to bring their 17-year reign to an end and it looks like they are slowly getting closer to their demands being met. Despite years of protest and criticism, the Americans were protected by the success of Sir Alex Ferguson and plenty of high-profile signings, however the pressure has been building as fans impatiently wait for their first Premier League title in almost ten years.

Hide Ad
Hide Ad

In a statement published by the Glazer family in November, they said: “Manchester United announces today that the Company’s Board of Directors is commencing a process to explore strategic alternatives for the club. The process is designed to enhance the club’s future growth, with the ultimate goal of positioning the club to capitalise on opportunities both on the pitch and commercially.

“As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company. This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global sale, each in the context of enhancing the long-term success of the club’s men’s, women’s and academy teams, and bringing benefits to fans and other stakeholders.”

Since the Glazer family’s announcement, a number of big names and consortiums have been linked with a potential takeover. Here is the latest news...

Bidders to meet Man Utd officials

With a number of parties expressing their interest in buying the Premier League club, the next stage of the takeover process is set to begin. The groups are set to meet club officials from tomorrow (Thursday), according to the Daily Mail.

Hide Ad
Hide Ad

Those that have made it to the second step, including representatives from the Qatar-based bid and Sir Jim Ratcliffe’s group are due at Old Trafford over the next week or so as US bankers Raine Group seek to thrash out a deal.

The deadline for parties to mak their bids passed last month and Raine have since selected a number of groups to take things forward. The report claims that a period of due diligence questions and answers is already underway, with discussions beginning last Monday.

It is unlikely that the likes of Sheikh Jassim bin Hamad Al Thani, Ratcliffe or the Glazer family will be present at the summits and will instead be represented by senior financial and executive figures from the bidders. Daily Mail have revealed there is then likely to be a period of exclusivity, where a chosen party will be given full access to the club’s books in order to make a final offer.

The Glazers are thought to be demanding around £6 billion to hand over the reigns at Old Trafford, though bids have so far fallen short of their asking price. However, they are still hopeful that a deal can be struck in the coming months, wiht the Qatar-based bid viewed as one of the favourites. It is believed that they are eager to complete their takeover in time for the summer transfer window so they can hand significant funds to Erik ten Hag.

Related topics: