Manchester United Takeover Rumours: The Manchester United takeover saga has taken a puzzling turn as bidders Sheikh Jassim Bin Hamad Al Thani and Sir Jim Ratcliffe’s INEOS firm have reportedly been left in the dark with no recent communication regarding their bids to acquire the club.
The existing owners have given neither party any more information on the progress of their offers to buy the storied football club.
According to those with knowledge of the process, there has recently been a communication breakdown that has left potential purchasers unsure of the status of their proposals. Because of the apparent communication breakdown, there are now worries that the takeover procedure may be put on hold forever, leaving Sheikh Jassim and INEOS in the dark.
The predicament occurred after Manchester United made a formal announcement that they were considering strategic alternatives, in effect opening the door for offers from prospective purchasers. Following the announcement, three rounds of bidding took place, with Sheikh Jassim’s Nine Two Foundation apparently making the winning bid in May for an estimated $7.6 billion.
The Glazers and the Raine Group, who are in charge of overseeing the sale, have not yet accepted any of the proposals in spite of the high prices. According to the I Paper story, the Glazers are not happy with how much INEOS and the Nine Two Foundation offered. The club’s owners also think that Manchester United’s worth is poised to increase further as a result of anticipated future media rights agreements and the soaring popularity of football in the US and other markets.
The recent 10-year agreement with kit maker adidas, which was inked and is estimated to be worth a remarkable £900 million ($1.15 billion), is a key sign of the club’s financial future. The Glazers’ confidence in the club’s financial prospects is further fueled by this agreement, which is the largest shirt sponsorship arrangement in Premier League history.
Manchester United is not slowing down on the football field despite the takeover uncertainties. This week, the team will officially announce the addition of Rasmus Hojlund to their roster in preparation for the forthcoming season. Additionally, in their last preseason game at Old Trafford against Lens, the Red Devils will give supporters a preview of what to expect from the club.