admin The strategic review of Man United was announced nine months ago and there is still no end in sight.
Sheikh Jassim bin Hamad Al Thani is still awaiting the Glazer family’s response to his offer to buy Manchester United.
Sheikh Jassim and Sir Jim Ratcliffe-led Ineos Group bid over £5bn in May but sources say there are ‘real concerns’; Glazers can’t sell United. “Bounty” by Sheik Yassim; The offer remains on the table and a source close to him says: “The next steps are up to the sellers and we can only wait.” The Manchester Evening News reported in February that United co-chairs Joel and Avram Glazer, are cautious about a sale. Her brothers Bryan, Edward, Kevin and Darcie also sit on United’s board of directors.
Figures involved in a potential takeover by United are growing weary of the process. The Glazers announced a strategic overhaul on November 22nd.
It is understood there was discord among the Glazer siblings when they went to market on nine months ago and there is still no agreement among the siblings as to what they want to do with United.
In the recent book Grit, Rigour & Humour: The Ineos Story, Ratcliffe admitted United the vested interests of six siblings has been an issue during discussions to buy the club.
The MEN wrote last month that financiers on Wall Street also believe the New York Stock Exchange should apply pressure on the Glazers to make a decision to avoid the process dragging on with shares traded.
There is surprise at the absence of any clarification or communication since the process began and NYSE figures have taken a dim view of share price fluctuations on the basis of rumour.
A financial source claimed figures connected to the Raine Group, the investment banking firm hired by the Glazers, believe they have been tasked with selling something that isn’t really for sale.
