As stated by journalist Ben Jacobs, Qatari banker Sheikh Jassim is growing increasingly frustrated with the lack of progress in talks with the Glazer family.
Despite the apparent stagnation in the process to sell the club, Sheikh Jassim remains committed to seeing it through.
Both Sheikh Jassim and Sir Jim Ratcliffe, who are attempting to acquire control of the club, have reportedly been left in the dark about the status of their bids. However, Sheikh Jassim is already prepared to complete the purchase if given the opportunity.
It has been eight months since the Glazers announced their intention to invite offers for investment or the sale of United through Raine, a US finance firm. However, the American billionaires did not guarantee that this process would lead to a change in ownership.
Understand the #MUFC sale process has not been paused, even though it's true that both Sheikh Jassim and Sir Jim Ratcliffe feel somewhat in limbo. There is frustration at the lack of communication but neither group plan to pull out or have been told they are unsuccessful to date. pic.twitter.com/sf4lKq034H
— Ben Jacobs (@JacobsBen) July 19, 2023
The lack of recent progress in the negotiations has caused uncertainty in both Sheikh Jassim and Ratcliffe’s camps. Journalist Ben Jacobs reports that both bidders feel they have been kept in a state of uncertainty due to the lack of communication from the Glazers.
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Despite the delays and prolonged negotiations to establish a preferred bidder, neither consortium is planning to withdraw from the bidding process. The sale has not been paused, and both bidders remain committed to pursuing the acquisition of the club.
Sheikh Jassim’s consortium, the Nine Two Foundation, is fully prepared to proceed with the completion process if their bid is chosen, as they have all legal preparations in place.
United fans are eager for a change in leadership after 18 years under the Glazers’ ownership since their £790 million leveraged buyout in 2005.
This indicates that Sheikh Jassim’s bid might be their preferred option, considering Ratcliffe’s offer is only for a majority 60% stake, allowing the Glazers to retain a minor stake in the club.
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Ratcliffe has publicly stated that he will remain in the process until the end, and Sheikh Jassim is confident that either he will gain control of United or the club will not be sold, with a financial investment plan being implemented instead.
