Manchester United are still waiting for an official takeover to go through despite plenty of rumblings on Monday night, according to an update this morning from reliable journalist Ben Jacobs.
What is the latest on the takeover at Manchester United?
The proceedings that would see a new owner take the reins at Old Trafford have dragged on and on over the last few months, with the bidding process whittled down now to just two prospective buyers.
Sheikh Jassim bin Hamad al Thani is one, with the Qatar-backed group looking to try and seal a complete takeover of the club. They launched a fresh bid not too long ago that would see them own potentially all 100% of the Red Devils, whilst also wiping out any debts that the club currently have. As yet though, it appears as though nothing has materialised in response to that offer.
The other interested party is billionaire Sir Jim Ratcliffe, who is trying to buy stakes in the club alongside his INEOS Group. They too have looked like they could win the battle to take over at points, with Ratcliffe at one point emerging as the preferred option for the Glazers. It would allow them to retain a stake in United too, with INEOS planning only to buy a majority rather than the entirety of the Red Devils.
The bidding process though has continued to rumble on though and there is no deal officially confirmed yet. A decision on exclusivity is expected soon but that too has yet to be sorted out.
Last night though, it appeared as though there may finally have been a breakthrough over new ownership, with the club's share prices soaring in reaction to rumours from a Qatari news source that the deal was effectively agreed with Sheikh Jassim's team.
However, according to reliable journalist Ben Jacobs on Tuesday morning, no deal is done as of yet. He revealed that nobody has been deemed as "successful" yet and no further update is expected within "the next few days".
Jacobs said: "Lots of speculation on the MUFC sale process, and an out-of-hours stock price surge reacting to that. But as of last night no group had been informed they are successful. Not expecting anything public or groundbreaking in the next few days. If that changes will update you."
Why do Man United fans want the Glazers out?
The club is, of course, currently run by the American Glazer family, with United supporters continually venting their frustrations at the way in which they have handled the club ever since their hostile takeover, which even had fans trying to block the deal.
While the owners have helped turn the club into a commercial juggernaut, they continuously use club profits for their own good, taking profits out rather than injecting cash in, all while straggling the club with huge debts and leaving Old Trafford to rot.
There have been protests at Premier League games this campaign over their perceived mismanagement of the Red Devils and things reached a head when they were revealed as one of the faces of the proposed Super League in 2021.
United fans will be hoping for a resolution to their ownership issues soon and will be hoping that this latest rise in stock prices eventually leads to a final decision over who will be taking over at Old Trafford.
