The Glazer family put Manchester United up for sale in November, initiating a much-anticipated deal.
However, negotiations have hit a stalemate, and as of now, no agreement has been reached.
As per reports from Bloomberg, Sir Jim Ratcliffe and his team of advisors are working diligently to restructure their bid, aiming to address concerns raised by minority shareholders.
A previous bid by Ratcliffe to purchase 69 percent of Manchester United faced resistance from certain minority shareholders, resulting in threats of legal action. Consequently, Ratcliffe is tailoring his proposal to garner broader support within the shareholder community.
The Glazer family have set a sale price ranging from £6 billion to £10 billion, reflecting the significant value attributed to the football club. However, the club’s share price experienced a drastic 21 percent decline when news surfaced that the Glazers were no longer open to selling, leading to a £600 million decrease in the team’s overall value. This adjustment left the club’s valuation at £3.3 billion.
Under Glazer ownership, Manchester United’s financial situation has been a cause for concern. The club’s debts have now reached a staggering £1 billion and outstanding payments surged by £31 million, painting a concerning financial picture for the club.