Well, I doubt this is what most United fans wanted. The Glazers family has at long last found someone to sell Manchester United to as they have agreed for Sir Jim Ratcliff to own…just 25% of the club.
I guess some things will never change at Man United.
After what has to be the longest selling process in English club football history, Manchester United finally has a new owner as Sir Jim Ratcliff’s bid was accepted by The Glazers and the English billionaire is now set to own…just 25% of the club with THE POTENTIAL of owning more later on. And, to be honest, I can see why A LOT of United fans are really pissed off.
Alright, for those who haven’t been following up the Manchester United sale process, the current owners of the club, The Glazer family, has been engaged in what has to be the dumbest, longest, and just downright unnecessary sale process in club history as they’ve been debating over to accept INEOS founder Sir Jim Ratcliff’s bid or Qatari billionaire and businessman Sheikh Jassim’s bid.
Originally, both parties were offering over $6B+ for 100% of the club, while Sheikh Jassim’s bid also included a full debt clearance, a brand-new stadium, and billions for squad investment in a package that exceed over $8B!
Yet, as time went on and The Glazers continued to sit tight on their insane $10B valuation of the club, the hopes of either party buying 100% of the club dwindled and Ratcliff grew ever more desperate to become the owner of his boyhood club (well, at least that’s what he claims despite the fact he tried buying Chelsea, Barcelona, and currently owns Nice).
So, to make a long story short, Ratcliff agreed to lower his demand of the club to 25% and keep The Glazers as the primary owners of the club for at least the next three years in exchange for a board seat, control over the sporting/football operations of the club, and the chance to become the majority owner later down the line.
And, as Sheikh Jassim wanted 100% control of the club for nearly $8B and The Glazers didn’t really want to cash out of their money-printing investment, the Sheikh knew he was being played and withdrew from the bidding process altogether yesterday.
Thus, now we are all caught up to where we stand today with Sir Jim Ratcliff being only a board vote away from becoming the 25% owner of Manchester United and the permanent sporting director (most likely).
But, as you’ve probably seen on some social media platform, A LOT of Man United fans are up in arms over this turn of events as they view Ratcliff as nothing more than a pawn of The Glazers and unable to make actual changes to bring the football club back to its former glory.
And I get that opinion as it’s most likely true given how Ratcliff needed a lot of investors and partners to make up just 25% of United’s valuation, while The Glazers still have the majority control over the club and could theoretically turn Ratcliff into some powerless minority owner if they so wished. So, Ratcliff really is being held over a barrel with The Glazers for the next three years, and even if he was to become the majority owner, how would he have the necessary funds (which is going to be $2B+) to turn Manchester United around if he’s going to spend a good $10B+ on the majority ownership of the club?
As a United fan, I’ve got no answer to that question. I’m leaning on the side of the fans as I just don’t see how Ratcliff has the money to properly run Man United and compete against the financial powers in Man City, Chelsea, Newcastle, and the rest of world football.
But I’m going to give Ratcliff a chance. We’ll have to wait see if he’s able to make better sporting decisions as the new sporting director/overseer and turn Man United back from the sorry state of a football team we see today and into the title winners they were under Sir Alex Ferguson.
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