Man Utd takeover hopes fade with 'billions more needed'

Stuart Telford

• 24 Mar 2023 02:59 CDT
• 3 min read

The chances of the Glazers sanctioning a full sale of Manchester United appear to be fading with bids from Sheik Jassim and Sir Jim Ratcliffe still falling short of their £6 billion valuation.

Raine, the US bank running the bidding process, had a 'soft' deadline on Wednesday, but the two frontrunners lodged their bids late amid claim and counter-claim.

Ratcliffe's INEOS-led bid was said to have been lodged on Thursday, with the Qatari Sheik Jassim's filed on Friday - but both offers are thought to be around £5bn, £1bn short of the Glazer's valuation.

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"Either [bid] would easily break the world record sum for buying a sports club, [but] the Glazers are seeking much more," report the Daily Mail. "Insiders say that the Americans expect 'well above £6 billion.'"

It is also understood that Elliott Investment Management, who own AC Milan, have put forward their own proposal that would see them take a minority stake in the Red Devils.

Additional costs

The bidders from INEOS and Qatar may be inclined t up their initial investment, either, after it has come to light quite how much money needs to be spent on the club once a takeover is completed.

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Old Trafford has fallen into a state of disrepair under the Glazers with significant renovation of the stadium a minimum requirement. An entirely new home ground might be the solution, but it is expected to cost at least £1.5bn.

The club's Carrington training ground also needs a revamp. Liverpool recently upgraded theirs for £50m - and that's before investment in the transfer market.

Erik ten Hag is keen to add a No.9 to his ranks next season, with Harry Kane and Victor Osimhen his top transfer targets, but both will cost in excess off £100m.

Given the above, a full sale of Man Utd would appear to be on the brink of collapse.