Manchester United’s two frontrunners to takeover the club, Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe have both been scrutinised...CONTINUE READING THE FULL ARTICLE>>>
Manchester United’s takeover process continued to rumble on today after Tuesday’s anti-Glazers protest at Old Trafford.
Supporters are beyond frustrated with the slow nature of the process as the Glazers continue to mull over the bids which are on the table. Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe are the two frontrunners to buy the club.
The former wishes to buy 100 per cent of the Reds while the latter is hopeful of purchasing 60 per cent. Reports this month have suggested Sheikh Jassim is in the driving seat to buy United but those close to his camp claim this is merely ‘pure speculation’.
United’s AGM is unlikely to yield confirmation of the takeover. With uncertainty still reigning large, MEN Sport has taken a look at the latest takeover headlines.
Sheikh Jassim and Ratcliffe’s bids scrutinised
Manchester United fans have been warned both prospective new owners will bring moral baggage to the table should either conclude a deal for the club.
Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe are the clear frontrunners as they attempt to close a deal as the process continues to drag on. Last November, the Glazers announced they would be seeking further investment opportunities in United. This included the possibility of a full sale.
Since then, progress has been slow to minimal as the American owners weigh up their options. In the meantime, both bids have been scrutinised by supporters.
On the one hand, Sheikh Jassim’s bid has been hit with accusations of ‘Sportswashing’ because of his Qatari roots.
Meanwhile, INEOS’ environmental track record and potential for keeping the Glazers at the club has put Ratcliffe under the microscope too.
What takeover bidders should take from financial results
Manchester United’s latest financial results have propelled the club forward into a potentially record-breaking year for revenues, but the figures aren’t all good news ahead of a potential takeover this summer.
United have adjusted their revenue estimates to £630million to £640million for a full year after posting their third-quarter results and it was another indication of the strength of the business.
But despite seeing rises in commercial revenue and matchday revenue, the club still posted an operating loss of £4.7million for the three months to March 31, 2023.
That is significantly down from the loss of £21.8million for the same three months last year, but according to football finance expert Kieran Maguire, it is another sign that this is a business that doesn’t make a profit at the moment.
