Manchester United RECAP announce takeover of Sheikh Jassim and Sir Jim Ratcliffe latest as share price falls
All the latest updates on the Man Unite takeover saga
Sir Jim Ratcliffe, Avram Glazer and Sheikh Jassim (Image: Getty Images)
Manchester United’s ownership issue remains unanswered as the club’s takeover saga continues with no clear end date in sight.
United’s potential sale has been on the cards for almost eight months after the Glazer family announced it last November. The process ultimately resulted in two parties becoming the clear candidates for the position of potential next owners of United.
Qatari Sheikh Jassim bin Hamad Al Thani’s offer includes a full takeover of United. This approach would see the club’s debt paid off and the Glazers no longer at Old Trafford. The alternative approach comes from young United fan Sir Jim Ratcliffe and his company Ineos. He offers a majority stake in United, which would result in the Glazers remaining at the club but no longer having overall control and instead holding a minority stake.
It remains to be seen which offer will ultimately be accepted. Of course, it’s also possible that neither approach is seen as acceptable by United’s current owners and that the Glazers simply remain in charge of the Old Trafford club.
With all this in the background, Erik ten Hag is looking to strengthen his squad in the summer transfer window. But with the uncertainty over club ownership, this could impact the club’s budget as they aim to bring in sufficient reinforcements.
Follow all the updates of the day below:
That’s all folks!
It was another very quiet day on the acquisitions front, so we’ll call it a day here.
The transfer blog will continue throughout the afternoon and evening, so head there to catch up on the latest United news.
United accept the new contract with Rashford
United managers have been working hard on a new contract for Macrus Rashford and The Athletic report this morning that a deal has been reached.
Rashford is on the verge of signing a five-year deal with his youth club after turning down lucrative offers from sides in the Premier League and across Europe. The Manchester Evening News reported last month that talks were progressing well and the club were increasingly confident they could agree a new deal.
Ratcliffe owns fracking rights to Carrington
The company, owned by Sir Jim Ratcliffe, holds the rights to explore for shale gas beneath the club’s Carrington training ground.
Chemicals giant Ineos has a 60% stake in an onshore oil and gas concession covering much of Trafford and Salford.
Known as PEDL193, the license covers a 296 square kilometer inverted L-shaped property encompassing Carrington, Trafford Park, Irlam, Eccles, Urmston, Stretford and Sale, stretching from Golborne, Wigan to the North West boundary to Higher Whitley. Cheshire, on the southwestern edge.
Its northeastern boundary is about half a mile from Old Trafford stadium. Ineos holds 60% of the license and 40% is owned by Star Energy Group, formerly known as IGas Energ
Onana’s transfer is imminent
The lack of progress regarding the takeover does not appear to be hampering United’s transfer efforts as Andre Onana will become Erik ten Hag’s second major signing.
The BBC reports that a deal worth nearly £50m is close to finalizing, with a five-year deal agreed with an option for a further 12 months.
The report adds that United hopes to finalize the deal in time for the flight to the United States later this week.
United stock price is falling
United’s share price dropped by 20p as the final close of the game.
Shares started the day at $23.11 but ended at $22.91 as uncertainty over ownership of the club continues. Manchester United share price at close of trading on July 16, 2023. (Image: Google)
JOHN MCDOUGALL
Latest United acquisition summary
It has now been almost eight months since the Glazer family announced their intention to seek “strategic alternatives” at United. Since then, offers have been made for the club, but there has been no news from the owners of the club.
The latest updates suggest that while the Glazers may not yet have decided on the future of the club and its owners, they have decided to change the transfer budget available for Erik ten Hag this summer.
And that seems like a positive update on that front, as United bosses are set to increase the amount Ten Hag can spend this summer.
Also…
‘He’s coming’: Fabrizio Romano reveals Manchester United will sign ‘Exceptional’ star ‘Very soon
‘Manchester United are close to completing the signing of another player described as ‘extraordinary’ this summer.
Fabrizio Romano says ‘extraordinary’ star will join Manchester UnitedHow United could line up with Ten Hag next seasonUnited’s most likely starting line-up next season, as The Last Word on Football predicts, includes some absolutely exceptional signings.
Andre Onana will join United.All summer, Manchester United and Inter Milan goalkeeper Andre Onana has been talked about. The Red Devils’ pursuit of the Cameroonian appears to be coming to an end after Fabrizio Romano announced he was ‘joining’.
Romano’s confirmation that ‘formal matters and fine details’ need to be decided before Onana officially joins Old Trafford suggests the deal will be finalized as soon as possible.Victor Osimhen’s future is discussed in a message from Manchester United. Romano seems confident the transaction will be completed soon, as he said in another tweet that Onana will be moving to Manchester United “very soon”.
According to a separate report from Gazzetta dello Sport, Erik ten Hag has personally called the Inter Milan star to assure him the transaction will be completed in “record time”.
What Andre Onana will bring to Old Trafford in terms of qualityTo sign Onana, the Red Devils will agree to spend the reported £47m.
David de Gea, who recently left Old Trafford after 12 seasons at the club, will be replaced by him.
Having played for the Dutch manager at Ajax, the Cameroonian international knows what is expected of Ten Hag when he joins Manchester United.Harry Maguire is expected to hold talks about his future at Manchester United.Onana had an excellent 2022-2023 season, helping Inter Milan win the Champions League and progress to the league match.
He is known for his punching power and all-round spread, which will be crucial in helping the Ten Hag club mount defensive attacks.