Manchester United’s takeover process has reportedly hit another snag as bidders have been deterred by Erik ten Hag’s side’s poor start to the season.
- Man Utd struggling in Premier League
- Bidders unwilling to meet asking price
- Ratcliffe and Al-Thani remain the frontrunners
WHAT HAPPENED? The Red Devils have got off to a dreadful start in the Premier League, losing three of their five opening games for the first time in their history. And according to The Times, that form is taking a significant toll on the club’s takeover process. Potential buyers, including Sir Jim Ratcliffe and a Qatari group led by Sheikh Jassim bin Hamad al-Thani, are now even less likely to meet the Glazer family’s inflated asking price of more than £5 billion ($6.2bn).
The takeover process, initiated in November last year when the Glazers announced the club was for sale, has faced several obstacles. At one point, Ratcliffe, the founder of Ineos, seemed close to a deal, but legal challenges regarding the initial purchase and the Glazers’ 67 percent stake derailed the process.
THE BIGGER PICTURE: However, the primary hurdle remains the gap between the valuations of the current owners and the potential buyers. Although both the Qatari and British offers exceed £5 billion, the Glazers are seeking more. According to the report, Manchester United’s recent poor form and controversies involving players like Mason Greenwood, Antony, and Jadon Sancho have further complicated the process and the principal main bidders are not keen to enhance their offers.
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