The Glazer family have been warned that the sale of a minority stake in Manchester United would be a “disaster” and lead to another public mutiny from fans.
The lengthy sale process will see Reign announce a third round of bids for the club next week amid suspicions that the prospects for a full takeover are waning.
American private equity firm Carlyle with over $300 billion in assets.
The consequences of this are obvious. As the Glazer family appears to be divided over their future intentions – brothers Joel and Avram want to retain control of the club, while their four siblings (Darcy, Brian, Kevin and Edward) are more open to sale – selling a minority stake could be a means to secure new infrastructure investment and team spending without losing control.
But the sluggish exit from the Europa League has confirmed how far the Red Devils are from competition at the highest level, and Manchester United’s Fan Confidence (Must) believes a minority sale would be unacceptable.
“We’re pretty sure about that – it’s the worst-case scenario,” said Chris Ramfitt, Must’s director of communications and fan forum contributor. I.
“If, as a result of this process, Glazer’s property is backed up by potentially more rather than less debt, I think it will be a disaster and I think you will see open fan revolt again.
“Perhaps only the four brothers and sisters who are most interested in the sale are benefiting. It seems to be a way for the four silent siblings to sell their share and help Joel and Avi move on. We are very, very clear that this is going to be a disaster and the reaction from the fans will be rebellious.”
I understands that all buyers will seek clarity when the third trading period closes on April 28. Sunday marks six months since the sale process was originally announced, and Rumfitt speaks for many who were in the process when he says “not much has happened since then.”
Optimistic Glazers hope for $6 billion in full sale
“Everyone has the same spreadsheet, any bet over £4bn seems very reasonable to us,” says Rumfitt.
A source close to the process acknowledged that buyers were somewhat “impatient” about how long it took. But US sources say the Qatar-backed bid remains fully committed to the process.
The Must is not committed to supporting any proposal, but publishes a list of requirements and principles that any new owner must adhere to and is willing to engage in dialogue with each manager after they take over.
They are trying to revive a fan swap plan that was agreed with the Glazers but was shelved during the takeover process as they seek a “minority but significant voice” in the club’s management.
Like everything else, this has been mothballed while the sale process continues.
“We said this process has to be fast because we’ve seen other clubs question their ownership rights for years,” Rumfitt said.
“One of the first words we said was that this process needs to be accelerated.
“We understand these are complex business operations, but we are almost six months away from the announcement, how much longer?”
Source: I News
I’m Dave Martin, and I’m an experienced journalist working in the news industry. As a part of my work, I write for 24 News Reporters, covering mostly sports-related topics. With more than 5 years of experience as a journalist, I have written numerous articles on various topics to provide accurate information to readers.