The future of Manchester United could be decided on Friday when the deadline passes for a third round of bidding to buy the Premier League giants. United's owners, the Glazer family, reportedly want a world record £6 billion ($7.3 billion) fee for a sports club before they agree to sell the Old Trafford outfit. That eye-watering price has so far not been met, raising fear among a discontented fanbase that the Americans could yet prolong their controversial 18-year reign. Qatari banker Sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani and British billionaire Jim Ratcliffe are the front runners should the Glazers decide to sell their majority shareholding.
United have been in a steady decline on and off the field over the past decade. The Red Devils have not won the Premier League title since former manager Alex Ferguson retired in 2013, while the club's revenue has fallen behind local rivals Manchester City and Liverpool due to a lack of regular Champions League football and a failure to modernize Old Trafford.
The Manchester United Supporters' Trust (MUST) has called for a swift conclusion to the process to allow new owners to be in place for the summer transfer window. "We are in dire need of new investment, which undoubtedly requires new ownership. MUST, along with United fans all around the world, are calling for this process to be concluded without further delay," the fans' group said in a statement.
Just months after hosting the 2022 World Cup, a successful Qatari bid would give the Gulf state pride of place in the Premier League -- the world's most-watched domestic competition. But Sheikh Jassim is the son of former Qatari prime minister Sheikh Hamad bin Jassim bin Jaber Al Thani, and his close links to the gulf state's ruling elite would raise questions over another Premier League club becoming a state-backed project.
INEOS chemical company founder Ratcliffe, a boyhood United fan, has been more circumspect in his assessment, insisting he will not pay a "stupid" price in a bidding war for one of football's most iconic clubs. Offers from the second round of bidding last month were believed to have been worth around £5 billion. That would smash the Premier League record of £2.5 billion paid for Chelsea last year by a consortium led by Los Angeles Dodgers co-owner Todd Boehly and private equity firm Clearlake Capital, with a further £1.75 billion promised in investment in infrastructure and players.
United's Future: Is Change Coming?
On Friday, Manchester United's future could potentially be decided as the deadline passes for a third round of bidding to buy the Premier League giants. With United's owners, the Glazer family, reportedly requiring a world record fee of £6 billion ($7.3 billion) for a sports club before they agree to sell the Old Trafford outfit, the possibility of new owners taking the helm remains unclear.
Qatari Sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani and British billionaire Jim Ratcliffe are the front runners should the Glazers decide to sell their majority shareholding. A successful Qatari bid would give the Gulf state pride of place in the Premier League, the world's most-watched domestic competition. However, Sheikh Jassim's close links to the gulf state's ruling elite would raise questions over another Premier League club becoming a state-backed project.
The Glazers' Controversial Reign
The Glazers' tenure has been controversial, as they have been deeply unpopular with the supporters since they saddled the club with debt in a £790 million leveraged takeover in 2005. The history of their time in charge suggests that they are unlikely to bow to fan sentiment.
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Reviewed by Eclectic Streams
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April 28, 2023
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