Reports have emerged suggesting that the ongoing bid battle for Manchester United may involve strategic maneuvers aimed at attracting higher offers. Sources have revealed that the current reports of Jim Ratcliffe leading the bid race could be part of a plan by New York bankers Raine to stimulate increased bids from both Sheikh Jassim bin Hamad Al Thani and Ratcliffe, according to British media.
While Ratcliffe team may not be aware of their current position, they believe their offer, which would leave the Glazer family with a 20% stake in the club, is enticing. However, considering that non-Glazer stockholders already own 31% of the club, it remains uncertain how such a deal would be structured. If Ratcliffe were to spend at least £2.5 billion to acquire 49% of the Glazers' current 69.9% stake, the club value would exceed $5 billion.
By the end of Friday trading session, Manchester United share price on the New York Stock Exchange had dropped to $18.12 (£14.54), resulting in a market capitalization of $2.96 billion (£2.38 billion).
It is reported that Raine and the Glazers still believe they can achieve a higher sale price, although any sale above £5 billion would be impressive.
While Sheikh Jassim bid is seen as the preferred route for a Manchester United takeover, it is acknowledged that Raine and/or the Glazers may be aiming to maximize the sale price. Sheikh Jassim remains committed to his offer of $5 billion for 100% ownership of the club.
The final decision ultimately rests with the Glazers, and the process of the takeover remains fluid with no fixed timeframe. However, experts suggest that the Glazers may be inclined to accept Sheikh Jassim offer as it represents a complete acquisition for more money.
The deadline for a takeover was initially expected to be before the summer transfer window, as announced by the club in November. Despite setbacks, experts believe a takeover will be completed in time for the potential new owners to make preparations for the upcoming summer and beyond.
The Glazers' ownership of Manchester United since 2005 has drawn significant criticism from numerous supporters due to the team below-par performances in the Premier League and perceived lack of investment in Old Trafford. The revelation that the Glazer family would continue to own the club caused a drop in its value.
With reports indicating the Glazers' optimism about securing funding to retain ownership, the company stock price witnessed a 13% decline.