According to Bloomberg journalist David Hellier, Manchester United suitor Sir Jim Ratcliffe’s takeover bid is currently seen as ‘dead in the water’, and Sheikh Jassim has emerged as the frontrunner to buy the club this summer.
Initially, Ratcliffe was considered the preferred bidder by the Glazer family. However, recent developments suggest that Sheikh Jassim, a Qatari banker, is now the favourite.
Sheikh Jassim is reportedly planning to complete a full takeover of the club and invest in the improvement of Old Trafford and the Carrington training complex.
Sir Jim Ratcliffe’s bid for a controlling stake in United appears to have lost momentum, as he is now reportedly only seeking partial ownership initially, with a potential full takeover occurring in three years.
🚨 EXCLUSIVE: "So essentially, i was told by sources that Ratcliffe's bid is dead."@business' @hellierd reveals to @FlexUTD that Sir Jim Ratcliffe's INEOS takeover bid is effectively dead as things stand due minority shareholders threat of legal action against the #MUFC board. pic.twitter.com/W3QXJAj4nf
— United View (@unitedviewtv) June 29, 2023
Bloomberg reports that Ratcliffe’s bid is no longer progressing, and Sheikh Jassim is expected to be named as the preferred bidder soon. Some Man United shareholders have reportedly raised concerns about the structure of Ratcliffe’s offer, while the Qatari group is confident in securing a takeover in the near future.
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The sale process has been ongoing since November, following the Glazer family’s announcement that they were open to selling the club, but there has been limited progress in recent weeks.
Sheikh Jassim is expected to be granted an exclusivity period in which United will be prohibited from engaging in discussions with any other potential buyers.
This gives Sheikh Jassim a clear path to finalising a deal for the club. The uncertainty surrounding the ownership situation is reportedly affecting the transfer plans at Old Trafford, as the budget available to coach Erik ten Hag remains unclear.
There are rumours that Sheikh Jassim would be interested in bringing Paris Saint-Germain’s Kylian Mbappe to United if he successfully completes the takeover.
Securing a new centre-forward is still a priority for United, but a potential deal for their main target, Harry Kane, is complicated.
Tottenham Hotspur chairman Daniel Levy is reluctant to sell Kane to a domestic rival. Additionally, if David de Gea departs, United will need a new goalkeeper as his contract expires soon.
The players who are not involved in international duties this summer will begin pre-season training at Carrington next week. The team’s first friendly match of the summer is scheduled against Leeds United on July 12.
