The most anticipated Manchester United takeover is reaching its conclusion with two outright bidders looking to buy the club. Sir Jim Ratcliffe and the chairman of Qatar Investment Bank are in contention to be the club’s new owners.
“We are in the End Game now” This is what a Manchester United faithful will say when you ask them about the Glazers and their beloved club. The English Premier League giants were up for sale and the final bids are with the Raine Group. The participants who have sent the bid have made their intentions clear with their message on social media platforms.
Manchester United Takeover: What are Glazers’ expectations?
The Glazer family bought one of the most decorated clubs in England, Europe and the world football in a deal worth $942 million in 2005 in a leveraged buyout model. The new owners loaded the debt into the club while they continued to draw dividends. This led to disgruntle among the Red Devils’ passionate fans.
The pressure to sell the club has gone up over the last 18 years. The die-hard fans have made silent protests, Twitter campaigns (#GlazersOut) and even stormed onto the pitch in May 2021. This led to the club being put out for “strategic investments”.
As per the reports, the current owners want £5 billion to sell Manchester United, whereas the pundits currently value the club at £2.9 billion based on the New York Stock Exchange data. Even if the club gets sold just below the asking price, it will become the most expensive sports-team takeover ever.
Manchester United Takeover: What are fans’ expectations and ambitions?
The fans are frustrated with the way how the club is dying its slow death. The lack of investments across the pitch has enraged the Old Manchester faithful. Old Trafford has not seen a rebuild/renovation/redevelopment in ages, whereas they have stifled managers with a stifled transfer kitty.
The fans have simple expectations. They want the new owners to wipe off the accumulated debt, redevelop Old Trafford, and strengthen the squad by providing the required funds to the manager. At the same time, they expect the club to run as a football club and not as a business.
Sir Jim Ratcliffe or Sheikh Jassim bin Hamad Al Thani or Elliot Investment Management: Who can be a better owner for Manchester United?
Sir Jim Ratcliffe: The second richest British and the owner of INEOS group, Sir Jim Ratcliffe has placed a bid to buy the majority share in his boyhood club. Sir Jim Ratcliffe looks at himself as the custodian of Manchester United and wants to win the European Championship with the club. However, there is no stance on the existing or futuristic debt at Old Trafford. Sir Jim Ratcliffe mentioned about a fan-centered approach, but it would fall short of expectations.
Sheikh Jassim bin Hamad Al Thani: Though there is huge concern around Qatar-based investment, Sheikh Jassim bin Hamad Al Thani has promised that the club will be debt free through a Nine Two Foundation, which is named after the Class of ‘92. A new training centre, stadium and improved infrastructure are all promised by him while he is looking to buy 100% of the shares. He also has promised to take the team to its glory days, on and off the pitch.
"The bid will be completely debt free via Sheikh Jassim’s Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the club supports(Via: Financial Times)"
Elliot Investment Management: Elliot Investment Management have not made a bid to buy the club but are looking to provide the financing option for the Glazers. The hedge fund organization had acquired AC Milan previously and that did not end on a great note, despite winning the title for the first time in eleven years. With Elliot Investment Management having a bad reputation in the market, the fans have already started opposing the idea of them financing the club.
Conclusion
Manchester United fans are fed up with the owners running the club on debt or the leveraged buyout model. While Elliot Investment Management is a big no, Sir Jim Ratcliffe’s bid does not fulfill the expectation of a faithful. Though Sir Jim Ratcliffe is a lifelong Manchester United fan, he is a Chelsea season ticket holder too. This has irked the fans and they consider it is a red flag.
On the other hand, Sheikh Jassim bin Hamad Al Thani is neither considered a saint amongst the fans. Few LGBTQ+ supporters’ groups have raised concerns about the bid after considering what happened during the FIFA World Cup 2022. However, considering the promises and Al Thani himself being a Manchester United fan with unlimited financial power, there is a higher chance of Al Thani and Qatar-based investment winning the deal.
Who would you like to see win the bidding?