British Billionaire, Sir Jim Ratcliffe is set to acquire a 25 per cent shareholding from the Glazers, who own 69 per cent of Manchester United.
Manchester United’s takeover is likely to be finalized this week after Emir of Qatar, Sheikh Jassim bin Hamad Al Thani withdrew from the race to buy the club from the Glazer family.
It was learned that Ratcliffe will cough out a whopping sum of between £1.3 billion and £1.5 billion for the stake despite Manchester United’s current market value at around £2.6 billion.
It is understood that Ratcliffe was “more savvy in his deal execution” than rival bidder, Sheikh Jassim, who wanted a full takeover of the Premier League club from their American owners, the Glazer family.
Recall that the Glazer family bought Manchester United for £790 million in 2005 in a highly leveraged deal that has been criticized for loading debt on to the club.
Man United have won 13 trophies, including five Premier League titles and a Champions League win in 2008 since the Glazers took over the club. They lost two Champions League finals, both against Barcelona, in 2009 and 2011.
The Glazer family have only spent £94million on improving infrastructure at the club in the last decade, according to financial analyst Kieran Maguire, who revealed this some few months ago.
“The Glazers have been in charge for many years. Personally, I would prefer a full takeover but so far they are not ready to exit the club.
“If the Glazers would not interfere and allow Ratcliffe run sporting matters, I believe it would go a long way to change the club’s fortunes both on and off the pitch. I think the time for change has come. Ratcliffe is British and he understands the club’s supporters. He would have an impact on the fans, the players, coaching staff and manager.
“He would also bring that stability that seems to be lacking at Old Trafford at the moment. Man United need to get the off-field talk back on the pitch just like in Sir Alex Ferguson’s era. The fans want good results on the pitch.
“They [Man United] will always be one of the biggest clubs in the world. Meanwhile, the Glazers have not done a bad job because the club is still successful on the field and off the field, but for me. I think now is the right time for somebody else to take over and I believe Ratcliffe would have a good impact on the club, sporting-wise.”
When asked whether the Sheikh Jassim’s deal would have been a better contract for Man United, Smart added, “Yes to some extent, I believe Jassim’s deal would be able to clear the club’s debt, make major structural changes both off and on the pitch and also invest a lot of money in the club.
“But one of my concerns is that can he bring the right people to manage the club’s sporting activities that would bring Man United in the spot-light again as one of the best clubs in the world?
“Also, Jassim’s deal would have been a big deal for the Glazers, but like I said earlier the American owners still wanted a stake in the club.
“However, I also believe that if given full control of sporting matters, Ratcliffe would do a better job because Man United requires leadership that enables a fairer, more inclusive and diverse game.
“They need leadership that builds a positive environment and culture at the same time as adhering to the club’s principles.
“They also need someone that is willing to make tough decisions to prevent an erosion in the club’s public image and Ratcliffe is capable of offering these things to the club.”
