MANCHESTER UNITED will be taken off the market, according to a new report.
It’s claimed that the Glazers have failed to get close to their valuation of the club and intend to end the sale process.
The report, from the Daily Mail, comes after SunSport told you that bidder Sheikh Jassim was closing in on purchasing the Premier League side for £6billion.
The Qatari royal has been battling with British billionaire Sir Jim Ratcliffe for months to buy the club.
Jassim’s team had been completing due diligence on the club with the end of the 18-year reign of the loathed Glazers appearing in sight.
However this new report will throw doubt on the entire sale process which started in November last year.
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It’s claimed that the Glazers now want closer to £10BILLION to sell up.
The story alleges that the American owners will try and sell the club again in 2025.
It’s believed they think the financial environment in two years time will attract more bidders.
However, Manchester United legend Gary Neville is sceptical about the latest update, tweeting: “I don’t believe the Glazers not selling/doing anything story. They have to do something.
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“They’ve run out of money and the financial situation is desperate. They need investment in.
“They’re also having a toxic impact on the club from the inside out.
“The negligence continues for now but I don’t think it can go on without some action on raising funds. Also who would come in as a minority alongside them with the damage it would do to their reputation.”
Manchester United fans will be furious at the prospect of the current owners sticking around.
Many supporters staged a sit-in protest at Old Trafford last week urging them to go.
It comes after years of protests at their ownership.
As and when the Glazers do eventually sell, they will make a healthy profit having lumbered United with massive debts when they completed their £800million takeover back in 2005.
The servicing of that debt has since cost United over £1bn.
And their last financial figures showed that the gross debt is £725m — the highest it has been since 2010.
Sheikh Jassim, if ultimately successful in purchasing Manchester United, would wipe that out to save on any further fees and not take any dividend payments from the club, like the Glazers did.
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He also plans to upgrade both Old Trafford and the club’s Carrington training ground, while continuing the investment in the team.
Manchester United are in action today, taking on Arsenal.
Source: Soccer - thesun.co.uk
