Man Utd takeover set to be DELAYED until May as Glazers disagree over whether to drop £6m valuation
MANCHESTER UNITED’s takeover is set to be DELAYED until May with the Glazers intent on securing their £6billion valuation, according to reports.
A number of bids have been launched for the Old Trafford club in the last fortnight.
Sheikh Jassim bin Hamad al-Thani and Sir Jim Ratcliffe both offered a maximum £4.5bn.
And according to The Guardian, any takeover is set to be DELAYED until May.
The Glazers are intent of securing their £6bn asking price for Man Utd.
That is despite the latest valuation of United by financial experts.
the Glazers’ £6bn asking price has been put into starker context by the latest valuation of the club by the Financial Times’ “Lex” column.
Using a calculation known as “discounted cash flow analysis”, United was valued at just £1.32bn, less than a quarter of the £6bn the Glazers want.
That valuation, though, does seem on the low side with United shares, trading on the New York Stock Exchange, giving a figure of £2.8bn, while evaluating the club based on revenues – and using the model set when Raine sold Chelsea to Todd Boehly last summer – gives a total of £3.55bn.
Those numbers may prompt the declared bidders to “go low”, with Ratcliffe’s Ineos petro-chemicals giant targeting just the Glazers’ 69 per cent stake rather than a complete takeover while Sheikh Jassim wants full ownership.
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However, another bid coming from Luxembourg-based hedge fund Genevra Associates could see them take a “minority stake” alongside the “current majority owners” – the Glazers.
A minority stake being bought in Man Utd could allow the Glazers more time to oversee any potential success by Erik ten Hag and his squad.
Man Utd won their first trophy since 2017 on Sunday, beating Newcastle 2-0 in the Carabao Cup final.
Bidders are expected to hear on Wednesday whether they’re allowed access to the Old Trafford club’s books.
