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Tuesday, April 16, 2024
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Manchester United Sale Process Hits Roadblocks

  • The Glazers reportedly could end up keeping the Premier League club as bids come in lower than expected.
  • Manchester United, Commanders expected to surpass current worldwide record price for a sports team.
An exterior view of Old Trafford, home of Manchester United FC.
MUFC

The Washington Commanders and Manchester United both went on the market in November, and each was expected to surpass the current worldwide record for a sports franchise set in 2022 with the $5.4 billion purchase of Chelsea FC

As slow as the Commanders’ process has been, Manchester United’s potential sale has had more twists of late — including the possibility that the Glazers could end up keeping the club. 

Malcolm Glazer’s heirs, who own Manchester United and the Tampa Bay Buccaneers, may decide not to sell their Premier League club since the ongoing banking crisis has kept bids lower than expected, The Guardian reported

The Raine Group, the firm advising the Glazers on the sale, extended the deadline for second-round bids last month.

Meanwhile, Sheikh Jassim bin Hamad Al Thani, one of the frontrunners, faces questions regarding regulatory issues over the Qatar Islamic Bank’s UK unit that he’s run since 2006. 

U.K. officials aren’t expected to block Al Thani’s bid, but Bloomberg reported Tuesday that government ministers could pressure the Premier League to take a closer look.

Jim Ratcliffe, the richest person in Britain, is seen as the other top contender for the club. 

Commanders Sale Drags Along

It’s been a week since Front Office Sports reported that a group led by Josh Harris entered a bid of slightly less than $6 billion for the Commanders. 

Harris remains the leading contender for Washington, although sources with knowledge of the process haven’t ruled out a last-minute bid by Amazon founder Jeff Bezos. 

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