There are plenty of suitors for Man United…but not all of them are what I’d consider in the club’s best interest. The Glazers Friday deadline for all offers on Manchester United has come and gone…and there were some major suitors, such as the Qatari Royal Family, Jim Ratcliffe’s INEOS, and Paul Singer’s Elliott.
Now, I don’t want to say that Manchester United fans are looking at the Glazers choosing the best suitor from three bad options, but it really is starting to seem that way.
Of all the official bids for Manchester United, the three largest and most promising to succeed have come from Sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani of Qatar, who is the son of former Emir of the nation, the brother of the current Emir, and was once in line for the throne, Sir Jim Ratcliffe, the supposed richest man in England and owner of French club OGC Nice, and his company INEOS, a chemical group company, and Paul Singer, an American hedge fund manager, and his investment firm Elliott Investment Managment.
All competent, extraordinarily wealthy, and uber successful men that have earned their wealth and status in diverse, polar opposite ways, while also proving they have the financing to build Manchester United back up into the premier club in all of Europe.
So, what’s my problem with them? They all have huge, conflicting interests that appear to go against what many Manchester United fans (including myself) want for the club.
Starting off with Sheikh Jassim, who appears to be the favorite of the three, it’s pretty obvious that he has some major ties to the royal Qatari family and the Qatari government as he is in both the royal Qatari family and the country’s government.
Of course, that’s not an immediate red line to ban him from ownership as he could easily step aside from his role and focuses all of his efforts on the business and funds he owns, but I don’t think that is a likely scenario given how involved he appears to be with his family and the government.
And, seeing how his brother, Emir Tamim bin Hamad Al Thani, is the owner of PSG, the conflict of interest these men have in the two clubs and the government of Qatar is just too high for me to hope they are installed as the next owners of Man United.
Having nations or representative of nations, whether they are the active rulers or mere officials, is a dangerous route for football to go down, which is why I would not want any member of a ruling royal family own Man United.
In the case of Sir Jim Ratcliffe and his company INEOS, there is a similar conflict of interest as the Qatari bid possesses: owning two competing clubs.
It’s unlikely that OGC Nice, who currently sits in 7th in Ligue 1 would face off against Man United often in Europe, but unlikely is not definitely. Thus, it would be tantamount that Jim Ratcliffe gives up his ownership over the French club for me, at the very least, to treat him as a potential owner of Manchester United with no prior conflicts of interest.
Moreover, the way how Jim Ratcliffe plans on buying the club, if the rumors are to be believed, is also a point of concern.
Just like how the Glazers bought the club on debt, Sir Jim Ratcliffe is also looking to meet the Glazers $6B asking price through bank loans, debt financing, and other payment means that would push Man United deeper into debt than what the Glazers have accrued over the years.
Thus, Jim Ratcliffe would be doing the exact same thing the Glazers did when they bought the club all the way back in 2005, which just also happens to be one of the main reasons Manchester United fans have been complaining and decrying out against the Glazers.
And, last but not least, Paul Singer and his investment firm Elliott Investment Managment actually are not looking to buy 100% or a controlling share of Man United from the Glazers (which Jim Ratcliffe and Sheikh Jassim are seeking), but rather looking to either support another third-party bid (i.e.: help fund someone else who wants to buy the club), buy a minority stake, or help debt funding.
Now, this is probably the most “status-quo” option as the American investment firm is simply seeking to either prop up the Glazers with more cash for a stake of the huge revenue pie the club receives each year or help another third party get the necessary funding to buy Manchester United for a similar return in revenue/club stake.
Again, it’s not a perfect solution, but it is also the one that ensures Manchester United is not owned by people with obvious conflicts of interest, huge debt-based financing, and/or it being owned by an entire nation.
To be honest, the only thing I am certain about is that the Glazers have to go if Manchester United is to return to the top of English and European football.
Yet, even though these bids may be able to bring that future about, the consequences of selling such a historic and massive club to people with questionable motives/conflicts is something that makes me extremely worried about the future of Manchester United.
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