The potential sale of Manchester United Football Club is set to enter its next phase, with a series of meetings scheduled to take place over the next two weeks.
The meetings, which will be held in either London or Manchester, will involve representatives from the Raine Group, the firm handling the sales process, as well as potential bidders for the club.
Currently, the only known bidders are Sir Jim Ratcliffe, the billionaire owner of INEOS, and Sheikh Jassim bin Hamad al-Thani, a Qatari businessman. However, it is believed that there may be other potential funding options, with the Elliott investment group reportedly interested in getting involved as a lender.
Those involved in the sales process are currently being informed whether they have made it through to the next stage. The potential sale of Manchester United has attracted a great deal of interest, with the club considered one of the most valuable assets in world football.
The Glazer family, who have owned Manchester United since 2005, have been the subject of considerable criticism from fans, who accuse them of prioritising profit over the success of the team. The family’s presence at Wembley for United’s Carabao Cup final win against Newcastle has fuelled speculation that they may attempt to retain ownership of the club.
However, it is believed that the four other Glazer siblings, apart from brother and fellow co-chairman Joel, are lukewarm about their involvement with the club. Whoever ends up running Manchester United will face significant investment in the stadium, with the likely cost estimated at around £2bn.
The club’s current stadium, Old Trafford, is one of the most iconic in world football, but it is in need of redevelopment. The options under consideration include redeveloping the existing ground or building a completely new stadium on adjacent land.
Regardless of who takes over Manchester United, it is clear that the new owners will need to invest heavily in the club if they are to restore it to its former glories. The team has struggled in recent years, failing to win a Premier League title since 2013, and there is a growing sense among fans that major changes are needed if the club is to compete with its biggest rivals.
The potential sale of Manchester United is sure to generate a great deal of interest in the coming weeks, as fans and investors alike wait to see who will take control of one of the biggest clubs in world football.