18 August 2023 , 10:02
434
0
Sheikh Jassim has received no contact from the Glazers over his bid to buy Manchester United with real concern now existing that the club will not be sold.
Qatari businessman Sheikh Jassim is bidding for the club alongside Britain’s richest man Sir Jim Ratcliffe, who had previously been tipped as favourite with his strategy of buying United. Sheikh Jassim’s bid then appeared to be in pole position to buy the club from the Glazer family, but no decision has been reached.
In a hugely protracted process that is close to entering its tenth month, the Glazer family are finally on the same page regarding the club’s sale. There had been concerns that the family were at odds with each other over the process of selling the club as all six siblings still profit from their shares.
Ratcliffe had previously been tipped as favourite with his strategy of buying United. The INEOS chief’s offer would see him take a controlling interest in the club and allow current owners Joel and Avram Glazer to temporarily retain a 20 per cent stake in United.
Ratcliffe admitted in the book Grit, Rigour & Humour: The Ineos Story that discord among the Glazer siblings presented complications when buying the club. Bryan, Edward, Kevin and Darcie have been keen to sell the club but their brothers Avram and Joel have been at odds with their wishes.
World Cup hero wants Man Utd move as doubts over Harry Maguire's future grow
Avram is the most involved of the Glazer siblings at United, attending each of last season’s cup finals – his brother Joel, the club’s co-chairman, has not attended a match since early 2019. Avram is believed to be the most emotionally involved in not wishing to relinquish entire control.
Avram and Joel Glazer put Manchester United up for sale in November last year (Getty Images)A report in the Manchester Evening News has now outlined how Sheikh Jassim has not had contact from the Glazers since submitting their fifth and final bid in May. Furthermore, it outlines how sources within the Raine Group – tasked with selling the club – are pessimistic about the process reaching a conclusion.
At least two of the six Glazer siblings – Joel and Avram – are understood to have preferred an option which would see an outside investor buy a stake in the club to help finance huge capital projects like the redevelopment of the Old Trafford stadium and Carrington training ground. That may now present itself as an alternative to the Glazers relinquishing control.
Several US investment companies – Elliott Management, the Carlyle Group and Ares Management – had been proposing minority investment into the club, which would see the Glazers remain in position at the head of United but with extra spending power available.