Man Utd takeover update with ‘deal advanced’ despite Sir Jim Ratcliffe claims | Football | Sport

Saudi sports chief Turki Alalshikh has sparked speculation about a potential fresh Manchester United takeover bid. The club’s majority owners, the Glazer family, turned down a takeover from Sheikh Jassim Al-Thani’s consortium when they offloaded 27.7 per cent of the club to Sir Jim Ratcliffe for £1.25billion. The Glazers, who have controlled Old Trafford for two decades, were hunting for investment in the club and ultimately handed Ratcliffe and Ineos a minority stake, whilst permitting him to assume command of football operations.

Their stewardship at the club has not proved particularly fruitful so far, yet they remain dedicated to the venture. Saudi Arabia’s sole current involvement in the Premier League comes through their ownership of Newcastle, though they continue to pour substantial funds into football ventures. Alalshikh, who has wielded enormous influence in staging colossal boxing spectacles, has posted on social media declaring that a bombshell takeover is on the horizon.

He wrote: “The best news I heard today is that Manchester United is now in an advanced stage of completing a deal to sell to a new investor … I hope he’s better than the previous owners”.

Alalshikh’s remarks emerge unexpectedly with absolutely no chatter surrounding the Glazers wanting to offload their stake, nor was it referenced by Ratcliffe in his recent interview regarding the club’s situation. The latter has even emerged to outline his long-term ambitions for the Manchester club.

In doing so, he defended his decision to implement a series of redundancies last season, which sparked widespread criticism, but he maintains will prove worthwhile.

He declared: “If you look at our results for last year we have the highest revenues ever. Profitability, the second highest ever. Those numbers will get better.

“Manchester United will become the most profitable football club in the world, in my view, and from that will stem, I hope, a long-term, sustainable, high level of football.”

Sheikh Jassim had previously pledged to eliminate any existing debt at the red side of Manchester, but his takeover attempt ultimately failed.

The Glazers were pursuing an investor, rather than seeking a complete sale.

Over at Manchester City, ownership from the Middle East has enabled them to establish themselves as England’s dominant force over the past decade.

The substantial investment from their Abu Dhabi proprietors has facilitated their European conquest and, more recently, Qatari-backed PSG secured Champions League glory.