Erik ten Hag insists he would not have accepted the Manchester United manager's role if the structure at the club was not right.
16.10.2023 - 20:17 / manchestereveningnews.co.uk
It was quite the weekend for Manchester United regarding the takeover process, something that is close to edging into its 11th month.
The Manchester Evening News reported on Saturday evening that Sheikh Jassim bin Hamad Al-Thani had pulled his 100 per cent takeover bid, giving Sir Jim Ratcliffe a clear route. The INEOS billionaire has pivoted towards a 25 per cent minority stake with the Glazers set to ratify the move this week.
Ratcliffe had initially wanted 69 per cent majority control but changed tack with the Glazers dragging their heels. He admitted it would be ‘excruciating’ to walk away from the process empty-handed.
READ MORE: Ratcliffe already has five things on his United to-do list
READ MORE: What United takeover news could mean for Old Trafford plans
Reports suggest the 70-year-old will take control of sporting matters at the club having run OGC Nice for the last four years. However, some United supporters are furious that the Glazers will be staying at the Old Trafford.
United supporter group The 1958 have vowed to continue to protest against the Glazers for as long they own shares at Old Trafford following news of Ratcliffe's desire to buy a minority stake at the club.
It emerged at the weekend that Sheikh Jassim had withdrawn his offer to buy United due to the Glazers' outlandish valuation and that development paved the way for Ratcliffe to advance in takeover talks.
Sheikh Jassim and Ratcliffe endured multiple rounds of bidding, but the British billionaire is now the only prospective buyer still at the table and he's closing in on a deal for 25 per cent of shares for around £1.3billion.
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Eleven years ago on Wall Street, Joel Glazer rang the bell when Manchester United were listed on the Stock Exchange. It is for Sheikh Jassim Bin Hamad Al Thani whom the bell has tolled.
Manchester United supporter group The 1958 have vowed to continue to protest against the Glazers for as long they own shares at Old Trafford following news of Sir Jim Ratcliffe's desire to buy a minority stake at the club.