Manchester United’s owners, the Glazer family, are allegedly ‘aware’ of the club’s rising valuation, which could be bad news for Qatari buyers of the Premier League club. The Glazers are anticipated to decide within the next several days whether to accept a bid from Qatar’s Sheikh Jassim bin Hamad Al-Thani or one from British billionaire Sir Jim Ratcliffe.
The latter offer, made through Ratcliffe’s petrochemicals conglomerate INEOS, includes a proposal to keep two of the Glazers at Old Trafford. Avram and Joel Glazer may remain as minority shareholders, which means they will continue to invest in the club but will not be able to make important decisions.
There is a general expectation in football that the largest teams’ values will skyrocket in the future years. The advancement of telecommunications and virtual reality adds to the urgency of that theory.
Chelsea’s new owners, for example, allegedly feel they have an asset whose worth might climb to about £9.5 billion in the future, despite paying £2.5 billion for the West London club a year ago.
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According to the Independent, the Glazers are ‘aware’ of United’s value and are likely to follow a similar approach. That could eventually be the determining factor between Qatar and Ratcliffe.
Sheikh Jassim’s proposal is for 100% ownership of United and its assets, thereby removing the Glazers’ ownership of the club. They might also accept Ratcliffe’s offer and benefit from any increase in valuation as minority shareholders.
The Glazers may lose out on significant future earnings if they sell to Sheikh Jassim. This is despite the fact that each sibling received a large sum of money as part of an estimated £5 billion full takeover.
Both bidding parties are reportedly unsure which direction the Glazers will pursue in the coming days. They might accept the Qatari bid and leave United totally, or they could stay at a distance as part of Ratcliffe’s proposal.
There has even been speculation that the siblings may abandon takeover talks and retain complete ownership. That, however, would not sit well with the club’s majority of supporters.
Erik ten Hag, the Red Devils head coach, will also want clarity on the ownership situation. The Dutchman will want to know how much money he has available to bolster his squad this summer.
