When is United’s takeover expected to take place?
Ever since the start of the backroom reshuffle after Richard Arnold’s departure was announce recently, the likelihood of Manchester United’s takeover stake by Sir Jim Ratcliffe has become a case of when, not if.
Strong rumours were recently circulating that Ratcliffe was seeking the advice of Sir Alex Ferguson ahead of the 25% takeover and that Jean-Claude Blanc is nailed on for a job at Old Trafford.
However, the confirmation has not officially happened yet with no surprise as the agonisingly slow process stained by The Glazers has now hit a full year ever since the public announcement that the American owners were open to offers last November.
Renowned journalist David Ornstein was recently speaking to NBC Sports about the takeover, ad highlight the slow nature of the takeover and the parties involved as “lawyers take time, Glazers take time”. Ornstein mentioned that the takeover is “not expected” to take place this week.
Being a public company listed on the New York Stock Exchange, United will have to go through the additional process of letting the stock market know as well as stakeholders. It also takes an additional 6-8 week process after the takeover for Ratcliffe before Ratcliffe is able to play his toys and fit the missing pieces of the jigsaw together at the club, therefore INEOS would not be able to make any powerful decisions until then at least.
The takeover is however expected to be announced before the New Year.
Red Devil Armada’s verdict:
The process is painful. At this rate, it does not look like Ratcliffe and his team will be able to get his hands dirty until the summer with footballing operations. The end of the tunnel is not totally the end because the Glazer’s are still going to be at the helm, albeit taking a step back from the important non-commercial decisions.
United’s process for doing things are 10x as slow as any other functioning club, so the bar is already at a low when it comes to expectations that Ratcliffe will have to raise.