Manchester United Takeover: Man United sale saga is yet to reach its end as Glazers are delaying the inevitable more and more. Raine Group, who are handling the bidding process have received a third round of bids. However, the bidders have not yet received any answers from the Glazer brothers. As per reports, from Sir Jim Ratcliffe and Sheik Jassim, Glalzers have received £5 billion offers. However, the offer from Ratcliffe’s Ineos Group includes a put-and-call option which could force Glazers out later. Follow Premier League LIVE Update on InsideSport.IN.
Reports from Sky News say that Ineos Group’s latest bid has a put-and-call option which Sir Jim Ratcliffe can trigger in as early as three years. This means that if his £5 billion bid is accepted and he gains control of the club, he can trigger this option after three years. He can then fully buy out the Glazers. This will give him full control of Manchester United from thereafter. This is only enforceable in 2026. Triggering the option will force the Glazers to give up their share of the control. If they don’t it will give Ratcliffe the power to forcefully acquire those shares.
In conclusion, Glazers will be forced to move out of the if Ineos Group trigger the option. According to an inside source, the first chance of triggering the option will come after three years of completing the sale. If none of the parties take the first chance, there will be sequential points included in the transaction. There, they will get the chance to trigger the option again and again. This news will sound like music to most Manchester United. Most fans do not want Glazers to put the club in any more debt and would happily see them leave sooner rather than later.
The sale of Manchester United was supposed to be completed at least a month or two ago. However, it has been delayed by the Glazers time and time again. The Raine Group are handling all offers from the bidders. They have now received a third round of bids from Sheik Jassim, Sir Jim Ratcliffe, and many other smaller interested investors. None of the bidders have heard any answers to their bids yet. Hence, there have been many rumours of the Glazers’ unwillingness to actually sell the club and all of this being a ruse to drive up the club’s valuation.
It is being said Avram Glazer and Joel Glazer are the ones that don’t want to relinquish control of their shares. Hence, they are more willing to accept small investment offers which could help rebuild the stadium and the training ground. Glazers have received smaller investment offers from companies, like the American hedge fund Elliott Management, US-based alternative investment group Ares Management Corporation, strategic investment firm, Sixth Street, and American financial investor Carlyle.
However, the biggest offers have come from Qatari businessman Sheik Jassim and the English billionaire Sir Jim Ratcliffe. Sheik Jassim has shown interest in buying all the shares of Man United. However, Ratcliffe’s offer indicates that the Glazers might have some control over the club even after the sale. However, the majority control over the club would still remain in the hands of Jim Ratcliffe. Even though details of the third bids from Sheik Jassim and Jim Ratcliffe are not known, reports still say Ratcliffe’s Ineos Group’s bid has more valuation.
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