Manchester United icon Rio Ferdinand has explained why the takeover process at Old Trafford has continued to drag on, with Sheikh Jassim of Qatar appearing to be in pole position to take over from the Glazers. The current owners initially stated that they would consider a sale in November 2022, but still remain in charge.
Despite several offers from Jassim and Sir Jim Ratcliffe amid deadlines, the Glazers are still mulling over their options with neither offer reaching their £6billion valuation – though Jassim and Ratcliffe are thought to have bid over £5bn. Ferdinand has already teased that a deal is close, with Jassim thought to be the frontrunner, and he has further explained the lack of progress.
“I had some news from a very good source, my great source at Manchester United. Things were running quite smoothly and it was going down the right path but then obviously [it hit a bump],” Ferdinand said on his Rio Ferdinand Presents FIVE YouTube channel.
“I think the big issue is, when you’re dealing with a group of people rather than an individual, it makes things very complex and difficult at times. You’re not dealing with one individual with the Glazers – I think Jim Ratcliffe came out and said it.
“That’s been the issue behind the scenes, I didn’t want to come out and say it, but you’re dealing with siblings in the Glazer family who are there to make a collective decision. I don’t think one person can just make a decision on their own, so therefore that makes it very difficult to say yes immediately just like that. It’s a process that they have to go through.”
Ferdinand insisted that the Glazers being split on whether to sell or not will also not be easing the takeover process, as all the siblings will need to be on board in order to complete a deal. Jassim continues to edge ahead of the INEOS chief but Ferdinand has warned supporters not to ignore Ratcliffe’s offer.
“I think that we all assume that Jim Ratcliffe and his group are totally out of it but I don’t think that’s the case,” Ferdinand added. “I think they haven’t been told that they’re gone and that they’re done with in this.
“I think Sheikh Jassim and that Qatar bid is obviously there and it’s strong. But at the moment it’s kind of down to the Glazers to make a decision together and go: ‘Right this is what we want to do’.
“But I think maybe one of the problems has been, from what I hear, that some of them want to remain involved and some aren’t happy with the number, and then it’s just general negotiations around that as well on little details.”
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