Sheikh Jassim and Sir Jim Ratcliffe increased Man Utd bids as deadline nears
After eight painstaking months, Manchester United fans are still waiting for the Glazers to sell the club.
Amid protests, pleas and pressure, all that hungry supporters have had to feed on are a slew of tedious updates, claims and counter-claims following behind-closed-doors conversations and PR moves from those interested in purchasing one of world football's most prestigious clubs.
It was in November when the United hierarchy announced that they'd be "exploring strategic alternatives," welcoming offers for a full sale or partial investment. Back then, there was still much of the season left and while Erik ten Hag's side did well to keep fans' focus on the pitch, the summer is now here and the spotlight firmly on the Old Trafford board.
So, what on Earth is going on? Here, Mirror Football breaks down the current state of play.
Who's still in the running?
Essentially, two names have led the race from the very first deadline for bids on February 17: Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani. Qatari banker Sheikh Jassim wants to buy 100 per cent of the club, despite the Glazers only owning 69, the amount which Ratcliffe has his sights set on acquiring - eventually.
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That's because after two subsequent rounds of bidding which ended on April 28, it emerged that Ratcliffe's £5billion offer for a majority stake - made through his petrochemical company, INEOS - would allow the Glazers to hold a minority stake until 2026 when their shares will perhaps be more valuable than now. Sheikh Jassim's offers - which are via his Nine Two Foundation and promise to rid the club of its debt worth around £500million - are believed to have been higher than rival Ratcliffe's, although still below £6bn.
Elsewhere, Finnish tech billionaire Thomas Zilliacus put his hat in the ring in March, only to withdraw his offer the following month. He remains open to teaming up with another bidder and has slammed the sale process - overseen by American investor bank Raine - for constant delays.
Sheikh Jassim Bin Hamad Al Thani's bid is to purchase 100 per cent of Manchester UnitedHave your say! Who'd be the best owner for Manchester United? Give us your verdict in the comments section.
There's also been interest from companies who'd be keen to secure a minority investment. Sky News claimed in April that American investor giant Carlyle is among a handful of parties - one of which is believed to be Elliott Management - to have pitched proposals with a view to acquiring a smaller stake at Old Trafford as opposed to a full takeover.
It's frequently been reported that the Glazers' preference would be to secure minority investment before selling completely at a later date if they don't get their asking price now.
What do the Glazers want?
Something that we all wouldn't mind: £6bn. That lofty figure remains the Glazer's asking price but it seems that no one is willing to meet their demands - and even the family can't agree on how to solve that issue. Brothers Joel and Avram, the face of the Americans' ownership as executive co-chairman, are keen to stay involved with United unlike their four siblings.
Avram and Joel Glazer would like to remain involved with Manchester United (AFP via Getty Images)Avram's appearances at three cup finals this season - via a private jet and expenses worth a reported £250,000 per visit from across the pond - seemed a way of conveying his commitment to the Red Devils, although the facts of his family's unpopular tenure mean that he'll need to do much more than sit in luxury next to Sir Alex Ferguson a few more times to ever win the fan base over.
Is there a deadline?
A deadline, you ask? For supporters eager for this long-running saga to finally come to an end, there's barely been a light at the end of the tunnel. Chiefs on the footballing side of the club had privately hoped that a sale of any form would be completed before the end of the season but now that's already been and gone.
Sir Jim Ratcliffe is the frontrunner to buy Manchester United and has already visited Old Trafford (PA)Avram Glazer bared witness as United lost the FA Cup final to bitter rivals Manchester City on Saturday and declined to answer questions regarding the club's sale when he walked through the mixed zone at Wembley Stadium. The clock is ticking in one respect, however, as Sheikh Jassim's fifth and 'final' bid has a deadline of this Friday - even though he won't withdraw the offer, reports claim.
INEOS' sports division are already said to be in talks with United officials, indicating that they're now the frontrunners as we head towards the middle of June. Both camps have allegedly mapped out their own hierarchies in an effort to ensure a smooth transition to power if they're successful in the winning the race.
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What happens once a bidder is chosen?
With Raine overseeing United's sale process and assisting the Glazers, their job is sift through all of the bids and feedback to the American family, who'll then in select a preferred bidder. Raine will proceed to enter final negotiations with the chosen party, talks which the Glazers will be a part of as they aim to finalise a deal.
Fans may recognise the name Raine from Chelsea's £4.25bn sale to Todd Boehly's consortium in May 2022. The bank were notably the lead financial advisors on the recent WWE and UFC merge as well as advisor to Eagle Football's acquisition of Ligue 1 side Lyon.
Avram Glazers attended Saturday's FA Cup final at Wembley (Robin Jones/Getty Images)Will Erik ten Hag's transfer plans be affected?
Ah yes, the football. Ten Hag has been faced with questions regarding a potential takeover ever since United returned to action following the World Cup but has refused to use the saga as a distraction, despite it causing concern behind the scenes.
The Red Devils boss even briefly met Ratcliffe and his entourage when they visited the club's Carrington training base in March for takeover talks, as a delegation for Sheikh Jassim did the day prior, just without meeting Ten Hag. Those running the show at Old Trafford insist that it's business as usual going into this summer, with the manager informing the United's current hierarchy of his preferred transfer targets ahead of a huge window.
United overspent last summer, having taken out a credit line from an American bank during the Covid-19 pandemic which eventually helped pay for signings such as Casemiro and Antony. While they could lean on those extra resources again and end up in more debt, Ten Hag's spending will be largely dependent on player sales as opposed to more funds from the top.
Even if Sheikh Jassim, Ratcliffe or a minority investor were to seize some control before the window slams shut at the end of August, the Red Devils aren't expected to splash the cash due to the looming threat of UEFA's financial fair play regulations as a result of recent financial loses. There might be enough in the coffers for a Harry Kane, though.
Erik ten Hag wants to know what Manchester United's financial situation is (Chris Brunskill/Fantasista/Getty Images)Ten Hag, like his supporters, wants clarity on how much money he'll have to spend, saying in May: "I don't have influence on [the budget]. The only thing I know is that Man United is one of the biggest clubs in the world, one of the biggest two or three from a fanbase perspective.
"The club has to compete for the highest [honours] in the world - the Champions League, Premier League - but in football you need funds to construct squads because the level of your players decides if you are successful or not. Everyone knows you need funds to construct a squad and high-level players cost a lot of money."
They certainly do and so will Manchester United - if they ever get sold, that is.
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