Sir Jim Ratcliffe’s prolonged attempt to acquire Manchester United has left some of the club’s shareholders frustrated. However, Sheikh Jassim’s failed bid hasn’t deterred his affection for the club.
A recent victory over Fulham brought temporary relief for Erik ten Hag and his Manchester United team, but the pressure mounts as they return to Champions League action tonight. In Group A, United is trailing behind and requires a positive outcome against FC Copenhagen to prevent Bayern Munich and Galatasaray from extending their lead.
Here’s the latest update on the takeover situation at the club as Sir Jim Ratcliffe’s impending arrival continues to cast a shadow.
Sheikh Jassim’s Unwavering Support for Man Utd
Despite the frustration resulting from his ten-month endeavor to secure a deal for United, costing him millions of pounds, Sheikh Jassim remains a devoted Red Devils supporter. Sheikh Jassim withdrew his £5 billion bid last month, and now Sir Jim Ratcliffe is poised to acquire 25% of the club for over £1.25 billion.
While Sheikh Jassim originally sought a complete takeover to make United debt-free, the Glazers will remain part of the Ratcliffe structure.
The Mirror reports that Sheikh Jassim harbors no ill feelings towards Manchester United and will continue to support the club from a distance.
Concerns from a Major Man Utd Shareholder
One of United’s significant shareholders, Lindsell Train, has expressed reservations about the takeover process to the Financial Times. Lindsell Train owns approximately 20% of United’s class A shares, traded on the New York Stock Exchange.
Nick Train, a UK fund manager, commented, “I must assume that we are closer to an announcement or a clear valuation, but who can say when or in what form it will materialize if the rumors are accurate.
I have no way of confirming their accuracy.” Train added that the entire takeover process had been exceptionally convoluted and time-consuming.
Sir Jim’s Ambitions and Meetings with the Glazers
According to the Manchester Evening News, Sir Jim Ratcliffe has already conducted virtual meetings with co-chairman Joel Glazer to discuss the changes the club will undergo once his stake purchase is finalized.
Sir Jim, with prior experience in sports ownership through Nice and FC Lausanne-Sport, is set to take charge of football operations at Old Trafford. During these meetings, it is believed that they discussed structural and personnel changes.
The Sun suggests that the INEOS businessman is also prepared to implement a transfer strategy, with a particular focus on signing £44 million Nice midfielder Jean-Clair Todibo.”