Patience is the key as the Manchester United takeover process rumbles on
Sports Agenda Editor at Daily Mail, Mike Keegan, recently provided insight into the ongoing saga. The journalist believes the takeover process of Manchester United may require patience.
In November 2022, United’s owners, the Glazer family, put the club up for sale, coinciding with the termination of Cristiano Ronaldo‘s contract. The Raine Group, a New York investment banking firm was hired by the Glazers to oversee the United takeover process.
The Glazer family’s ownership has been turbulent, marked by fan protests against their control. United supporters eagerly await the day their reign ends.
Keegan shared updates on the takeover situation, shedding light on the Glazers’ decision to sell the club. The family’s tenure has seen multiple protests and fans yearning for change.
Even though his sources described the Glazers as “very patient” people, the continued protest from United fans has made a significant impact as putting United for sale seemed like wishful thinking once.
Leading Candidates Emerge
Over recent months, Qatari Sheikh Jassim Bin Hamad Al Thani and English billionaire Sir Jim Ratcliffe emerged as front-runners in the takeover bid.
In February, both parties submitted an initial bid of £4.5 billion, which the Glazers rejected.
The Staggering Asking Price
United fans on social media criticized the price demand, accusing the Glazers of extracting significant funds from the club.
In 2005, the Glazers secured 98% of United’s shares through a leveraged buyout of £790 million. Their arrival at Old Trafford sparked outrage, leading to confrontations with protesting fans.
The Red Devils’ fans may eventually see their wish fulfilled, with the Glazers considering a sale. However, the sheer valuation of the club necessitates a lengthy process.
Encouragingly, prospective buyers continue negotiations, indicating their commitment to the acquisition.
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The United takeover saga unfolds with the anticipation and hope of change, but fans must embrace patience as this monumental shift in football ownership progresses. It is frustrating, especially because the fans aren’t really keen on having the Glazers here for too long. But such big deals don’t happen overnight. For now, the focus should be oN football.
Good results and silverware will only make us an even more lucrative prospect for potential buyers, although Manchester United don’t really need any extra publicity given our reputation.