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Man Utd takeover: ‘Drastic change’ needed for Sheikh Jassim to reach Glazers agreement
Manchester United takeover: Sheikh Jassim remains hellbent on removing the Glazers from power at Old Trafford.
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‘Drastic change’ is needed if Sheikh Jassim is to become the next owner of Manchester United, according to reports. The Qatari billionaire remains in the race to acquire the club, despite Sir Jim Ratcliffe’s willingness to let the Glazers stay on in a reduced role. And there’s still no end to the saga in sight as speculation continues to rumble on.
News broke earlier in the week that Sheikh Jassim had launched a fourth bid as he looks to beat Ratcliffe in the race for Manchester United.
Yet The Athletic say there needs to be a ‘drastic change’ in order for an agreement to be reached.
The Qataris are insisting all their bids have included wiping United’s debt, which is believed to be worth over £500million at the current moment in time.
But that would mean the Glazers missing out on a large chunk of cash, which would be used on the club itself instead.
Sheikh Jassim’s camp are also insisting they’re committed to spending ‘several hundred million pounds for investment in the stadium and local community on top of the bid amount’.
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But while that sounds attractive to fans, it appears to be a sticking point when it comes to lessening the Glazers’ resolve.
Noises around Ratcliffe’s bid ‘have been positive’, despite the Brit having a ‘chequered history’ with the Raine Group - who are overseeing the process.
A year ago, the INEOS chief made a late offer to Chelsea.
However, by the time that bid arrived, Raine had already narrowed their shortlist down to four potential buyers.
Todd Boehly would end up reigning supreme in that battle, with the American paying a figure of £4.25billion in order to get his way.
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Ratcliffe is hoping second time is lucky as he looks to buy United, having long been a supporter of the club.
And it’s still unclear what the Glazers will decide as they continue to cling to power, 18 years on from their own takeover.
Brothers Joel and Avram Glazer have been the key players when it comes to running the club ever since 2005.
As part of Ratcliffe taking charge, they’d be enabled to stay in reduced roles, before selling their shares for a premium further down the line.
But share prices have dropped amid suggestions the 70-year-old is the frontrunner and it’s a certainty his own offer will succeed.
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Meanwhile, Gary Neville recently opened up on the takeover process and once again pleaded for the Glazers to pack their bags and leave for good.
"I've not heard the pledges that have been made by any of the bids," he said.
"At the moment, there's the Jim Ratcliffe bid, the Qatari bid and a number of US investment funds.
"I don't want private equity into an English football club, I'll be really clear. I don't think it works.
"I think football is about emotion. Believe it or not, in Manchester, I have a partnership with a US private equity fund and in other sectors of life, I love international investment.
"But I think in football clubs, you can't go into it purely because you want to see a return.
“When it comes to the current bids, at this moment in time, I think Jim Ratcliffe's bid has its merits, the Qatari bid has its own merits.
"My main concern at this moment in time is that the Glazer family sell and that they remove themselves from the club. They'll make a lot of money, well done for that.
"They've proved to be very astute business people but now it's time to hand over control because the club has deteriorated under their ownership."