Tuesday, November 29, 2022

All you need to know about Man Utd takeover as front runner emerges with asking price set

All you need to know about Man Utd takeover as front runner emerges with asking price set

While many people will be focused on the World Cup,  Manchester United fans will be considering who may become the club’s next owners.

The current owners of the Red Devils, the Glazer family, announced on Tuesday night that they were open to new investment or even a full sale offer. The Americans have been in charge at Old Trafford for seventeen years, but they are deeply unpopular with the club’s supporters.

Sir Jim Ratcliffe, one of Britain’s wealthiest men, has already emerged as the frontrunner, and a price has been established. As the Glazers prepare to sell their prized possession, SportsDias examines everything we know about it.

Glazers demand

Given the breadth of Tuesday’s 300-word statement released by United, this much is a little unclear.  “The Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions,” was the central message.

Therefore, it could be a sale or new investors purchasing shares in the Red Devils. If there is a sale, however, the prospective buyer will be required to pay the highest price ever paid for a football club.

City AM reports that the Glazers have set an asking price between £6 billion and £8 billion. This price is anticipated to fall to between £3 billion and £5 billion, with the club’s debt exceeding £500 million.

Money is the simplest solution.

The decade has not been fruitful for the Glazers at Manchester United. The Red Devils’ last Premier League title came in 2013 after Sir Alex Ferguson’s retirement precipitated a catastrophic decline on the field.

The Glazers lack the financial resources to compete with Manchester City, who has access to Abu Dhabi’s limitless sovereign wealth fund. The sale of Chelsea for £2.5 billion has also persuaded the Glazers that it is time to sell.

The Blues’ acquisition by Todd Boehly has set the standard for other Premier League clubs. And with the Glazers pushing the narrative that United has more than a billion fans, they are confident that they can sell for an even higher price than what Boehly paid.

Parties Interested 

Sir Jim Ratcliffe, the wealthiest man in Britain, is reportedly the first to launch a bid, with the Daily Telegraph reporting that his interest is “serious.” Despite being a lifelong fan of the club, Ratcliffe abandoned his summertime attempt to purchase the Red Devils.

According to the Financial Times, club legend David Beckham is also considering a bid and is willing to hold talks with prospective buyers to form a consortium. The Middle East and even former buyer Lord Jim O’Neill, who has admitted his interest in joining a consortium, are likely to show additional interest.

“If I thought I could be part of some really value-based, purpose-based, better ownership of United, I would, but it would be very, very difficult,” he told the Manchester Evening News when asked if he would resurrect his interest, after failing to succeed with a takeover in 2010.

What the surporters want

The Manchester United Supporters’ Trust (MUST) demanded that any new owner put the club’s interests before their own, as opposed to the Glazers.

MUST said: “Whilst supporters have long called for change, of course this has to be the right change. At this moment in time our club needs new investment more than ever. That requires new ownership. Any prospective new owner or investor has to be committed to the culture, ethos and best traditions of the club.

“They have to be willing to invest to restore United to former glories, and that investment must be real new money spent on the playing side and the stadium. Finally, any new ownership structure must embed supporters, including a degree of fan share ownership, in their operating model.

“Manchester United’s fans are its greatest asset and hold the key to unlocking the true value of any football club. That relationship has to be one of equals – sharing in ownership and unified with the same goals.”

All you need to know about Man Utd takeover as front runner emerges with asking price set

All you need to know about Man Utd takeover as front runner emerges with asking price set

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