Sky Sports reporter Kaveh Solhekol has given an update on the potential takeover of Manchester United, revealing that the current offers have fallen short of the valuation needed to win the race for ownership.
What’s the latest on Manchester United’s takeover?
Two offers have been made to the Glazer family to acquire ownership of the club, from Manchester-born Sir Jim Ratcliffe and Qatari Sheikh Jassim Bin Mohammed Al Thani.
Both offers have made it to the next stage of the process, which will allow the bidders to access the financial records within the club to further assess the size of their bids, which have both fallen short of the £6bn asking price.
Speaking on Sky Sports News, Solhekol revealed that neither bidder wants to overpay for the club, but both will need to increase the size of their offers.
“I understand that both leading bidders are willing to pay a premium to own a trophy asset like Manchester United. They both know that a club like Manchester United does not become available on the market very often,” he stated.
“I’m also being told that they will not overpay. My understanding is the initial indicative offers that have been made. fall short of that £6bn asking price. So both Sheikh Jassim and Sir Jim Ratcliffe determined to buy Manchester United.
“It looks like the Glazers are really really prepared to sell the club at the right price. But I don’t think the two leading bidders are prepared to pay £6bn. What they need to do, is they need to see the books, they need to see the accounts, they need to see all the commercial contracts and the players’ contracts.
“Once they’ve done that, and that could take some time, that is when they will be able to sit down and work out what their formal offers are going to be.”
What do new owners need to do?
The Glazers have come in for heavy criticism from Man United fans over the years for a number of reasons, with their lack of investment in the club both on and off the pitch causing a decline in performance.
Sheikh Jassim has promised significant investment into the club’s facilities, academy and first team in a statement, and this will cause excitement amongst the fans who have long yearned for the club’s infrastructure to be improved.
Gary Neville has previously highlighted the problems at Old Trafford, with the stadium in need of an upgrade, and this could be a good starting point for the new owners to solve, before turning their attention to investment in the squad.
Erik ten Hag’s side look set for a top-four finish, and being back in the Champions League, combined with increased investment from the new ownership, could see United have a busy window ahead of a potential title challenge.
