Manchester United has been known to be one of the most popular football clubs in the world. A dip in form and pressure from fans saw the owners put the club on sale but why is the sale taking longer?
The club could be sold soon after 17 years under the ownership of American businessmen the Glazers.
Avram and Joel Glazer: “We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the club today and in the future”.
Sources guarantee Glazer plan is to sell the club soon and the process is already ongoing.
Ownership
In 2005, Manchester United was sold to the Glazer family, an American sports ownership group, and they have owned the club since then. The Glazer family recently bowed to pressure and put the club on sale. As reported by The Independent, the Glazers are looking to sell all of their shares for around $6 billion (£4.9bn).
“This is taking very long. The longer it goes, the smaller will be our chances of having a good transfer window even if Qatari buys us.” a united fan expressed his concern over the sale of the club.
Bidding
As of now the bidding for Manchester United takeover is under way as being conducted by by US merchant bankers, Raine Group.
There have been rumors and reports of potential buyers expressing interest in purchasing the club with two bids already placed.
However, some of the bidders, Qatar’s Sheikh Jassim, have expressed their frustrations with the Glazers over the lack of progress in the sale of Manchester United.
Also, Finnish businessman Thomas Zilliacus has withdrawn his offer to buy Manchester United and termed the process “a farce”
“I have declined participation in a third bidding round for united. The bidding is turning into a farce, with Glazers giving no respect to the club. The delays will make it very difficult for any new owner to build winning team for next season.
“Jim Ratcliffe, Sheikh Jassim and I all were ready to negotiate a deal to buy united. Instead chose to start a new round. I will not participate in a farce set up to maximize the profit for the sellers at the expense of Manchester united.”
With so much conundrum surrounding the sale of the club it still remains unclear whether the Glazers will sell Manchester United.
