CBS Sports journalist Ben Jacobs has provided an update on the Manchester United takeover, claiming there are ‘mixed narratives’ over the sale.It is now more than nine months since the Glazers first put United up for sale with no end in sight.Qatari businessman Sheikh Jassim bin Hamad Al Thani is the current favourite to buy the club.He has submitted several offers for United, with his fifth and final bid believed to be worth around £5bn – with a further £1bn of investment pledged.
He faces competition from British billionaire Sir Jim Ratcliffe, who unlike Sheikh Jassim – who is trying to buy 100 per cent of the club – is only looking to take a controlling stake of more than 50 per cent.Raine, the American banking group which is handling the sale on behalf of the Glazers, is yet to confirm if a bid has been successful, with sale unlikely to be completed before the start of the new season.The lack of clarity surrounding the sale and its protracted length has led to speculation the Glazers may choose to keep control of the club.
Should this happen, it would likely anger a large percentage of United’s support, who have opposed the American family’s ownership of the club since they first took control in 2005.Speaking to GiveMeSport, Jacobs has attempted to explain why the sale is yet to be completed.
“There’s a mixed narrative about why we’re not seemingly getting any movement. So, from the group’s perspective, they feel like they’re waiting for communication from the Glazers and the Raine Group,” he said.”But sources close to the seller still indicate that the delays are group-triggered. In other words, they require more information to get to the point of being ready to sign.ADVERT”By ready to sign, I mean both groups have undertaken tasks and responsibilities traditionally associated with a preferred bidder. Both are being asked to get six feet from the finishing line to be ready to undertake the completion process.”To get there, it requires a lot of legal and logistical box ticks. So, the groups imply that they are ready, and the Glazers must decide.”Jacobs added: “But sources close to the selling side are implying the delays are down to the fact that the groups are not as ready as they perhaps are intimating they are. This is normal within a takeover to have these two different sides.”But it’s also an indication that nothing is paused at this point. It’s quietly ticking along behind the scenes. And as we’ve had throughout the process, the Glazers simply need to show their hands. If they don’t, the situation won’t be any clearer.”
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