Would you believe us if we told you it’s been a full year since the Manchester United proposed takeover process began?
A year on, it seems to be reaching its eventual conclusion. Sir Jim Ratcliffe appears to be the man taking charge as part-owner of the club – although it took many turns along the way.
It’s been 365 days of rumours, rubbish and downright frustration for Manchester United fans and Erik ten Hag. Amid a sea of issues with his first team squad, he and his coaching staff have also had to deal with what we’d like to describe as ‘Glazer-induced chaos’ in the background.
So with this, we thought we’d whack together a complete timeline of the takeover process, on the day it began – the 22nd of November 2022.
22nd November 2022: Manchester United release official statement
It all begins here, amid the start of the first-ever Winter World Cup, Red Devils fans were more interested in the long-awaited news the club may finally be up for sale. A statement was put out by United.
The statement read: “The board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company.”
‘Manchester United fans can’t quite celebrate yet’, was what we wrote at the time. No kidding.
23rd November 2022: Sir Jim Ratcliffe’s name enters the frame in the Manchester United takeover
He didn’t mess around, did he? Just a day later The Telegraph reported that British billionaire Sir Jim Ratcliffe is set to bid to buy Manchester United.
The Mail also reported at the time that the Glazers could demand as much as £6 to 8 billion for Manchester United and believe the club could be subject of a bidding war. How right they were.
24th November 2023: The fibs begin for Manchester United
Naturally, a whole lot of false rumours were bound to circulate regarding who could be a potential buyer of the club. The 24th of November 2023 presented some of the most ludicrous ones.
The Daily Star reported that Apple were interested in buying United and making them the richest club in world football.
Elsewhere, the Financial Times reported that United legend David Beckham is open to talks with any potential serious bidders for the club.
The Daily Mail claimed that the sovereign state of Dubai was also considered a serious contender to enter the bidding for United.
10th January 2023: Qatari interest speculated for Manchester United
All went quiet for a while, with rumours galore that we can’t even justify including here – but then we got our first glimpse of interest from the Qataris.
Bloomberg named Manchester United as a potential opportunity for the Qatari Sports Investment group.
This was the first glimpse into what would become Sir Jim’s biggest competition.
17th January 2023: Sir Jim is IN for Manchester United!
It was officially announced on the 17th of January 2023 that Sir Jim Ratcliffe was in the race to become owner of Manchester United.
Quoted by Sky News, Ratcliffe’s firm Ineos stated: “We have formally put ourselves into the process.”
The petrochemical company was the first potential bidder to come forward.
17th February 2023: Sir Jim has competition – in the form of Sheikh Jassim
A month later, a bid had been formally submitted to Manchester United by Qatari investors, the Financial Times reported.
The offer was credited to Sheikh Jassim bin Hamad bin Jaber Al Thani, the chairman of one of Qatar’s biggest banks.
This is where we first learn about Sheikh Jassim, who becomes a prominent figure in the takeover process.
18th February 2023: Takeover ‘deadline’ and a third proposal emerges
A report by the Times stated that American hedge fund Elliott was the third named party in the running to take control of the club from the Glazers.
The firm were not looking to buy the club, but rather help fund either external bidders or the Glazer family if they decided to stay on as owners.
This was submitted on the 17th of February 2023, just before the 10 PM deadline set by the Glazers and the Raine Group for offers on the Red Devils.
The deadline was extended by the Glazers, with the bids seemingly not taking their fancy – which led to a ridiculously long-winded process unfolding.
10th March 2023: Elliott Management make it through to the second stage of the Man Utd sale process
Elliott Investment Management has made it through to the second stage of the process around the potential sale of Manchester United, reported BBC Sport.
They remain in the fact they are not looking to buy the club, which wasn’t music to any fan’s ears – as it means the Glazers were likely to remain.
23rd March 2023: Thomas Zilliacus shows interest and second bids arrive
Amid the withstanding candidates tweaking and restructuring their initial offers – a fourth serious candidate also entered the frame.
Finnish entrepreneur Thomas Zilliacus submitted a bid for United, confirmed in a press release via Pressat.
His catch was that he wanted Manchester United supporters to club together to put up half the funds. Safe to say – this one didn’t go to plan.
Ratcliffe also makes his second bid on this day, along with Sheikh Jassim’s second the very next.
12th April 2023: Thomas Zilliacus pulls out, and frustrations grow as the second deadline passes
The takeover process then headed to a third round of bids, reported BBC Sport. A new deadline was set for April 28, much to the frustrations of those involved.
The stress was too much for Zilliacus, who decided he was out. He hit out at the Glazers and slammed the process in general.
28th April 2023: Third deadline… Sheikh Jassim makes world record bid, Ratcliffe remains in but Elliot Management disappear
The third deadline comes and goes – which leaves just two horses left in the race.
Sheikh Jassim’s latest offer was reported to be over £5 billion while the size of Ratcliffe’s improved bid was not made public.
Elliot Management had all but disappeared from the process at this point.
It’s also worth noting that fans were growing tired at this point. ‘Full sale only‘ protests were in full swing and the mood around Old Trafford was becoming seriously moody.
May 2023: More bids, confusion and Ratcliffe restructure made clear
May was the most confusing month yet for the takeover. Everything went a bit flat, but Jassim did send another bid this month – his fourth.
Sir Jim Ratcliffe’s INEOS also proposed a newly structured offer, that gives Glazers a chance to keep a 20 per cent stake.
7th June 2023: Sheikh Jassim submits a fifth improved bid
Sheikh Jassim submitted a fifth offer to buy the club, reported The Mail.
The report stated he had given the Glazers an ultimatum that after the following Friday – he would not negotiate any further. This could have been a breaking point for the Sheikh.
The rest of the month had major reports that Jassim was set to be the ‘likely winner‘, but the Glazers had other plans.
- READ MORE: Sheikh Jassim makes new Manchester United move as his desperation and irritation becomes clear
2nd August 2023: Why had things gone stale?
July passed, with seemingly no update on the ever-growing, frustrating saga. But why?
According to The Ipaper, as far as the two main bidders were concerned, the sale process of the Old Trafford club had effectively been paused. As well as this, any talk of a swift resolution doesn’t seem to resonate with either bidder.
This was likely because the Glazers were optimistic for the season ahead, meaning they were delaying a sale for as long as possible. Stock prices continued to rise and plummet. Utter chaos.
23rd August 2023: And Jassim has won it?
Reports from The Sun stated that Sheikh Jassim was set to win the race to buy United and the deal could be announced as early as next month.
Speaking on Sky Sports News’ David Ornstein said: “The big unanswered question is whether the Glazers will really sell Manchester United when push comes to shove. So far we haven’t had an answer yet but perhaps we are getting towards it now.
“There was a consensus that this [the takeover] will get a resolution after the transfer window.”
It drags on with no definitive answer.
- READ MORE: Sheikh Jassim Manchester United takeover ‘set to complete’ and announcement could come next month
3rd September 2023: Have the Glazers changed their mind?
United fans hit with another misery compiling no. After Jassim, who seemed to be the last remaining candidate, looked to be taking over – it was met with reports the Glazers were prepared to pull out altogether.
This led to huge backlash. Everything went quiet once again.
26th September 2023: Ratcliffe resurgence, an entirely new offer emerges
According to Bloomberg, Ratcliffe was planning to completely restructure his bid. This would be the restructure that we know now was his winning ticket.
A man that looked dead and buried – September 26th 2023 may have been the most pivotal day for Ratcliffe in the entirety of the takeover saga.
14th October 2023: Jassim is OUT! Ratcliffe looking good…
The Guardian report: “Sheikh Jassim bin Hamad al-Thani has informed Manchester United’s owners, the Glazer family, of his withdrawal from the process to buy the club, viewing their valuation as highly unrealistic when compared to a £5bn-plus final offer.”
This has left Sir Jim Ratcliffe as the only serious bidder, and he has downsized his initial offer.
The Times reports Ratcliffe’s latest offer to buy a 25 per cent stake in the club is set to be approved.
One year on, the 22nd November 2023: As it stands…
And that’s all folks. As it stands, it looks destined that Sir Jim Ratcliffe is set to complete his 25 per cent stake which will give him control of footballing operations imminently.
It’s been a long, hard and painful year for Manchester United – but Ratcliffe’s appointment is certainly a positive one.
It isn’t the one many were expecting, with the Glazers still knocking about, but the change is a welcomed one at Old Trafford and fans should definitely be optimistic for the future.
All the latest news on Ratcliffe’s imminent plans can be viewed here.
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