According to US financial outlet Benzinga (also quoted by the Express), the new owner of Manchester United could be officially confirmed during the club’s third-quarter fiscal earnings report on June 27.
The Glazer family initiated the takeover process in November of the previous year, and it was initially expected that their association with the club would end within a few months.
However, the entire takeover process has taken longer than expected. Now, reports suggest that the announcement of the new owner could be just hours away. The US financial website reports that the sale of Man United PLC would be confirmed on Tuesday.
Sheikh Jassim bin Hamad Al Thani of Qatar is the likely winner of the auction for Manchester United. He made the final bid for the club earlier this month.
The official announcement of the new owner is expected to come after United reports its earnings for the third quarter fiscal today.
The prolonged takeover saga has caused frustration among the club’s supporters. Initially, it was anticipated that the new owner would take control of the club before the end of the previous season, but now we find ourselves in the critical stage of the summer transfer window without a confirmed owner.
According to Benzinga, Sheikh Jassim is expected to become the new owner of United by the end of the day, which will likely please fans eager for the departure of the Glazer family.
However, it is uncertain if United will be able to immediately benefit from the takeover this summer. Reports suggest that the approval process could take around eight to ten weeks.
If that is the case, United may not receive an immediate financial boost and may have to rely on player sales to supplement their initial summer transfer budget of £120 million.
