There has been movement in regards to a Manchester United takeover, according to reliable reporter David Ornstein.
Who is taking over from the Glazers at Man Utd?
The Glazers remain in full control at Old Trafford, almost 12 months on after initially putting the club up for sale last year. Sheikh Jassim and Sir Jim Ratcliffe have been the main contenders to take control in Manchester, with both parties making final Man Utd takeover bids way back in April.
Despite talk going quiet over the summer, there have now been some fresh Man Utd takeover updates, with reports suggesting that Ratcliffe is looking to change his bid to initially take a minority stake of 25% from the Glazers. More recently, there were claims from Qatar that Jassim is very close to a Man Utd takeover. However, in another twist, Ornstein has shared what he’s heard from Old Trafford on any potential deal.
Talking in a Q&A for The Athletic, Ornstein provided a new Man Utd takeover update, saying that he’s heard Ratcliffe and INEOS are the frontrunners at this stage and not Jassim, although as he mentions, there have already been plenty of twists and turns.
“We’re getting question after question on this. I’m assured there has been movement and, contrary to reports that it going the way of Sheikh Jassim, I keep hearing that INEOS taking a minority stake and building from there remains more likely.
“That said, I was previously being told it’s going to Sheikh Jassim! This shows either the momentum keeps swinging or that none of us really know. Perhaps even the Glazers don’t know.”
How much do the Glazers want for Man Utd?
Earlier in the year, the Glazers’ asking price at Man Utd stood at around £6bn, with reports claiming they were not ready to budge from their valuation. However, more recently, it has been claimed that the Glazers could take Man Utd off the market and look to put the club back up for sale in 2025, looking to bring in between £7bn-£10bn.
A takeover will eventually happen, according to one of the first football agents Jon Smith, who has recently said that Jassim could eventually overpay to secure a deal.
“To be honest here, I’m not inside this deal, but I know quite a few of the funds who are close to the two bidders. It would appear vaguely intelligent for the Glazers to have looked again at the Gulf and said there’s a bigger game here, and we don’t want to sell ourselves short.
“They’ve got arguably the biggest entity on planet football, and if the Qataris are going to pay £5bn, maybe they’ll pay £10bn. Maybe it’s just a number, and they’ll settle on seven.
“These deals are notoriously complicated, and this is the biggest one of them all. I’m just of the belief that it’s a very heavy negotiation, and it’s ultimately all about the money, obviously, but also about the timing.” Smith added: “I think the takeover is going to complete in some shape or form. It’s just a question of when.”
However, by the looks of things, it is Ratcliffe who is currently leading the way, so Jassim may need to overpay as Smith mentions to push a deal through.