Man Utd takeover: Sources ‘close to process not optimistic’ at Old Trafford

The Glazer family have received improved bids from Manchester United suitors in recent weeks

Manchester United remain in limbo as it is ‘optimistic’ that the preferred bidder in the race to complete an Old Trafford takeover will be announced on Friday, CBS reporter Ben Jacobs has told GIVEMESPORT.

Although the Red Devils are producing the goods on the pitch, with boss Erik ten Hag leading his side to Champions League qualification, there remains uncertainty over the future running of the club behind the scenes.Man United latest news – Takeover update
According to The Independent, the Glazer family’s reign may be nearing its end as the preferred bidder to complete a Manchester United takeover could be confirmed as soon as Friday.

The report suggests there is cautious optimism that Sir Jim Ratcliffe will be selected, as INEOS’ proposal has the Red Devils priced at a higher figure than the Sheikh Jassim Bin Hamad Al Thani-led Nine Two Foundation’s offer, but the process of the club changing hands could still go on for months.

It is understood that Sheikh Jassim submitted a fourth bid worth close to £5billion last week, but that still falls short of the Glazers’ £6billion valuation.

Ratcliffe is expected to be put forward as the preferred bidder after lodging an increased offer which would allow Joel and Avram Glazer to remain part of the hierarchy.But respected journalist Fabrizio Romano recently told GIVEMESPORT that Sheikh Jassim will ‘try until the end’ to reach an agreement with Manchester United’s current owners.

What has Ben Jacobs said about a potential Man United takeover?
Jacobs has doubts over whether Manchester United and Raine Group, who are acting as intermediaries between the Glazers and bidders, will confirm the preferred bidder in the coming hours.

The journalist understands that none of the Red Devils’ suitors have been handed a period of exclusivity.

When asked whether he expects a preferred bidder to be announced on Friday, Jacobs told GIVEMESPORT: “Not necessarily. It’s been a process of twists, turns, and surprises. But, speaking to those close to the process, it appears it’s optimistic that a preferred bidder would be announced by Friday.

“There is a lot of back talk at the moment and back and forth between the parties and Raine Group. Nobody has been placed in a period of exclusivity at this point.”It’ll be interesting to see whether, as or when there is a preferred bidder, if that preferred bidder comes with exclusivity, because, if not, the door will always be open to another party.”

How long have the Glazers been in control at Man United?
According to BBC News, the Glazer family gained control of Manchester United when they were successful with a £790million takeover bid in May 2005.

The report suggests the Americans secured the 28.7 per cent stake owned by Irish racing tycoons JP McManus and John Magnier, taking their shares up to more than 70 per cent.

But it was announced last November that the Glazers were ‘commencing a process to explore strategic alternatives’, which included potentially walking away from Old Trafford.

Jacobs recently told GIVEMESPORT that all six members of the family, who currently hold shares at Manchester United, are ‘determined sellers’.