‘Novel’ about the sale of Manchester United is approaching its outcome

The saga of the sale of Manchester Unitedwhich started about a year ago, should reach its epilogue on Thursday with the arrival as a minority shareholder of the British millionaire Jim Ratcliffefounder of Ineos, a scenario that leaves fans with doubts.

The Glazer family should give the green light on Thursday to the transfer of 25% of the shares of the English giant, which it has run since 2005, for the payment of nearly 1.5 billion pounds (1.7 billion euros / US$ 1.79 billion) for Ratcliffewho will turn 71 this Wednesday.

The founder of the petrochemical group INEOS, one of the greatest fortunes in Great Britain, finds himself without competition after the withdrawal of Sheikh Jassim Ben Hamad Al Thani, president of the Qatar Islamic Bank (QIB), visibly fed up with the misrepresentations of the American owners .

The latter announced in November 2022 that the board of directors of the Manchester club was exploring “all strategic alternatives, including a new investment in the club, a sale or other transactions involving the company”.

According to the press, they were asking for a check for 6,000 million pounds (6,900 million euros) for the total transfer of the club, bought in 2005 for 790 million pounds (about 910 million euros).

Sports decline

Under his mandate, Manchester United’s brilliance has faded, to the sadness of its fans, while its neighbor and rival City is becoming more dazzling every day. The Red Devils, European champions for the last time in 2008, have also not won the Premier League since 2013, just before the iconic Alex Ferguson retired.

After a successful first season, Dutch coach Erik ten Hag suffers in the English championship, 10th after eight rounds, and in the Champions League the possibility of being eliminated in the group stage is growing, after the two initial defeats.

In general, fans value positively the possible arrival of Ratcliffe, United fan since childhood. But they expected, like him, a total takeover by the boss of INEOS, already owner of OGC Nice (Ligue 1), of Lausanne-Sport in Switzerland and who is also financially involved in cycling and Formula 1. .

If an acquisition of 25% of the shares were confirmed, “A number of questions regarding the transaction must be clarified before fans can rule on its merits.“, warned the Manchester United Supporters Trust, which represents a part of the club’s fans.

“The result must include new investments in the club. It cannot only be the interests of shareholders, whether existing or new.“, Add.

Qatari withdrawal

In terms of infrastructure, the Old Trafford stadium remains the largest in the Premier League with nearly 75,000 seats, but it has aged during the Glazer years. Manchester City’s, much more modern, was preferred to host the Euro 2028.

Sheikh Jassim had promised to invest mountains of money for a new stadium, a new training center and transfers of top players, also adding a promise to pay off the club’s debt, according to the press.

But the Qatari withdrew his offer in the last phase, according to a source close to the case told AFP, confirming information from the BBC.

Red Devils fans are cautious for the moment, ahead of the final episode, in which it appears the Glazer family will maintain control despite the entry of Ratcliffe’s capital.

“How can a minority shareholder stop the cultural decline of an entire organization if the people who have overseen this decline still own the majority of the shares?” Gary Neville, former United captain, asked himself on social media.