The Man United takeover saga continues in the final months of 2023. The episode started in 2022 and the club is yet to reach the final stage. The Premier League club have borrowed £160million since the end of the period published in their recent financial report. It means Man United’s overall debt soared to a huge amount.
Sir Jim Ratcliffe is leading the race in the current ownership battle. He is looking to seal the deal with the Glazers family and take sole ownership of the club later in future. In previous bids, Ratcliffe was not in the race to take complete ownership. They will now aim for the 25 per cent stake. Glazers’ family want the remaining part which might be taken by Ratcliffe.
Some reports claim that Jim Sir has had a discussion to find ways to convert his 25 percent stake to 100 percent one day. The bill shareholding could one day turn into a controlling stake. The Petrochemicals billionaire is planning to reduce the shareholding of the Glazers family. He has an idea of United’s vast debt which has been increased.
In the summer, Man United published the annual financial report and Jim sir knows the responsibility of the club. Numbers have been increased as per the annual report. However, Joel and Avram have sanctioned the borrowing of another £160m which will now take the club to their total gross debt to almost £800m.
Now, the big concern is it could provide concern to Sir Jim Ratcliffe. He is looking to take full control of the Red Devils and the gross debt could spoil it. Glazers’ records confirm that they are not expected to clear the debt before making way. However, fans are not happy with the Glazers as they want no control of the US owners. They have organised protests against the owners. Sir Jim is looking to find ways where their share in the club can represent a clean break for Man United fans.
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