The Manchester United takeover has been one of the most intriguing ongoing stories of the season, with the Glazer family expected to welcome fresh investment to Old Trafford after 18 years in charge.
There are currently two names expected to make their move for a takeover of the club, with Qatari national Sheikh Jassim bin Hamad Al-Thani having led a group. His consortium will go up against a bid fronted by INEOS founder and CEO Sir Jim Ratcliffe, once Britain's richest man, for control of the club.
Despite ten seasons without a Premier League title, United remain one of the biggest clubs in the world and an appealing prospect for any potential buyer. Last Friday (April 28) saw the third and final deadline for bidders to declare their interest, with the two aforementioned parties remaining in the process which started last year and was originally expected to be completed during Q1 of 2023.
There are also US investment groups, namely Elliott Management, the Carlyle Group and Ares Management, vying for ownership of the club but they are hoping for a minority stake, with the Glazer family retaining control.
Here is the latest on the bidding process as it enters its final stages.
Takeover completion date
With the original bidding process having been pushed back, the deal is now expected to go into the final weeks of the season. This is a development which favours Ratcliffe, who has been believed throughout to favour a takeover at the end of the current season in a move which would keep the Glazer family present at the club.
Shaikh Jassim's bid is one which has been made clear not to be linked to Qatar Sports Investment, who own PSG. However, with Jassim's links to the Qatari establishment, there could be cash flow issues to consider should the bidding process go beyond the end of the season, with the summer transfer window a considerable factor in global football investments.
Extra £800 million pledged
As it stands, the only way that Manchester United fans will be able to achieve their wish of the Glazer family's exit from Old Trafford is for the bit led by Sheikh Jassim to prevail. This bid is reported to £5bn, with a 100 per cent stake in the club expected, handing full control of the club to the Qatari based investor.
However, it has now emerged that an extra investment has been pledged, with City AM reporting that an additional £800m is a ring-fenced sum to be directed towards improving the club’s infrastructure, notably the training facilities and Old Trafford stadium.
Glazer compromise
The Glazer family have been unpopular figures since their arrival in England, with their proposed departure bringing excitement for United fans. However, they may be disappointed with the news that Ratcliffe's proposed bid would be structured in a way which would see the Glazer family retain a stake in the club and a place on the board.
The Times report that the INEOS founder would take a controlling 50 per cent stake in the club, likely becoming the club's chairman. This would mean that Avram and Joel Glazer would keep a stake of around 20 per cent while the remaining 30 per cent of shares would be held among various other groups.
Premier League rules
The recent takeover of Newcastle United has shone a light on state-backed takeovers and their impact on football, with new rules coming in as a result. While there is no direct link between Sheikh Jassim and Qatari Sports Investment, owners of PSG, there remain concerns about the impact of nation states and government backed bidders taking over football clubs and its impact on competition.
A new Premier League ownership and directors test includes a ban on human rights abusers, the violent and corrupt. Following any takeover, then there would be a “annual report of compliance" to adhere to for all owners within the league.
Breaches, including human rights abuses, based on the Global Human Rights Sanctions Regulations 2020, constitute one of several "disqualifying events". Amnesty international have already expressed concerns over the takeover and should the bid be approved, then scrutiny will continue.
