Glazer family risk ‘huge backlash’ from Man Utd as ‘splits in opinion’ could see full sale being scrapped
According to reports, there is a “split in opinion” among the Glazer family regarding whether a full sale of Man Utd should be accepted.
The club’s owners have been looking to secure fresh investment since last November. They confirmed at the time that they would “evaluate all options”, with a full sale on the agenda.
The Glazer’s relationship with Man Utd‘s supporters has declined in recent seasons. This was worsened when their planned involvement in the European Super League was revealed.
A fresh report from The Telegraph has revealed details about a potential takeover after bids were submitted by interested parties last Friday.
The report claims that Joel Glazer ‘harbours some reservations about a full sale’. He is said to have the ‘strongest connection to the club out of the family’ and it is added that there is ‘some uncertainty over whether the Glazers will cash in on the club amid apparent splits in opinion among the six siblings’.
It is rightly pointed out that the ‘backlash’ from fans would be ‘huge’ if the current owners decide to ‘rebuff offers or were only willing to sell a minority stake’.
It is widely reported that the Glazer family would be unable to reinvest in Old Trafford or United’s Carrington training ground ‘without substantial external investment’.
Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe are ‘the only two parties to have publicly declared their hand’.
Jassim (the chairman of Qatar Islamic Bank and son of a former Qatari prime minister) is ‘confident his proposed buyout of Manchester United would not fall foul of rules barring ownership or control over more than one club’. He intends a full purchase of Man Utd that in turn would eradicate their current debt.
Those close to Jassim have rejected the claim that his bid ‘is effectively a state project funded by the Qatar Investment Authority (QIA), the gulf nation’s sovereign wealth fund estimated to have more than £370bn of assets and which already helps to back Paris Saint-Germain through its subsidiary Qatar Sports Investment (QSI).’
UEFA would need to agree that QIA was not having a “decisive influence” over Man Utd and PSG. If they are impacting both clubs, one of the two teams would not be allowed to compete in a UEFA club competition at the same time.
Though a source has insisted that this bid is “fully compliant with all regulations”.
“If Sheikh Jassim and his office were not entirely convinced – 100 per cent convinced – that this bid would not comply with all regulatory mechanisms in the UK and wider rules then they wouldn’t go through the trouble of submitting the bid,” one source told The Telegraph.
“From our side, we’re very confident this would be fully compliant with all regulations and is why Sheikh Jassim is going for it. On the point of the QIA and QSI, there is absolutely no overlap operationally, legally or from an advisory perspective. If that would have been the case he would not have gone for this bid. He is potentially investing in the club as a private individual.”
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