According to a new report, the Glazers are willing to sell their entire stake at United. Last year in November, they announced their plans for strategic alternatives for the Red Devils. Overwhelmed by the response they’ve received, the Glazers have said that a full-scale sale of the club is the best option. The Glazers are open to other options which include them holding a majority stake in the club and selling a part of it to potential buyers. In this way, they can retain overall control over the Red Devils. There has been a lot of speculation regarding the potential buyers after the news was announced.
Potential Buyers
Several parties have been linked with the takeover of the Red Devils. There have been interested from the United States as well as the Middle East. Britain’s richest man Sir Jim Ratcliffe was the first person to publicly declare his intention in buying Manchester United. Sir Ratcliffe, who is a lifelong United fan has had his sights on the club for a long. Qatar also has been keeping a close watch on the recent developments but till now haven’t confirmed anything. Saudi Arabia’s sports minister said they would support a private sector bid. The Athletic claim that they expect a Saudi-Qatar Consortium to challenge Sir Ratcliffe’s bid given the close relationship both these kingdoms share.
Process Underway
The sale is been overseen by US bankers Raine Group, if things go as planned then it will move to a more formal stage in the next three to four weeks. The price can’t be disclosed now but it has been speculated to be in the range of £6bn and £8bn. The Glazers initially wanted to sell a part of their stake in United but that attracted very less attention. So now they are willing to let go of the entire club. The sale once done will be a sight of relief for the majority of the fans at Old Trafford. It’s been 18 years since the US-based Glazer Family formally took over the club. After the controversial takeover, most fans want them out for so long. Hopefully, the time has come, the days of mismanagement are finally said to be over and glory days are coming back.
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