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Manchester United fans protested outside Old Trafford on Tuesday after yet more indecision regarding the takeover.
The Glazer family put the club up for sale in November last year. Since then, progress has managed to stall significantly.
Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe are the two frontrunners to take over the club. However, neither man has yet to be named as the preferred bidder.
As both men wait for news, supporters have remained restless. Yesterday, The 1958 group organised a peaceful protest outside the Theatre of Dreams demanding the Glazers leave the club immediately.
This protest coincided with the launch of United’s new kit as well as the unveiling of the Reds’ financial results. Elsewhere, reports from the US suggested Sheikh Jassim is the preferred bidder but this claim has not been backed by other outlets.
Take a look at our blog below for all of the day’s updates on the takeover situation.
The new shirt is an homage to Manchester and Salford, with a design featuring the Lancashire Rose and the iconic industrial revolution-era bridge over the River Irwell. The traditional red shirt, white shorts and black socks will be worn for the first time against Leeds in a pre-season friendly.
12:26Key Event
ANALYSIS – Glazers of FFP? United’s biggest obstacle in the transfer window
While figures at Manchester United insist the Premier League’s profitability and sustainability rules limit their spending power in the transfer market, external sources maintain the biggest obstacle to Erik ten Hag sufficiently strengthening his squad remains the club’s owners.
As mindful as United have to be of financial fair play, multiple sources are adamant they would have more to spend if the Glazer family topped up the club’s cash flows, so low it made the announcement of the strategic review in November inevitable.
The Glazers have never invested a single penny into United since they completed their takeover in May 2005.
United sources have suggested they have a budget of around £120million, supplemented by any player sales. That is lower than the de facto £150m budget former managers Louis van Gaal, Jose Mourinho and Ole Gunnar Solskjaer operated under.
Read more on the obstacles facing United here.
11:49Jack Flintham
United fans’ statement on Glazers protest
The 1958 released a statement on Tuesday evening in response to their protest outside Old Trafford.
United fans gathered outside the entrance to the Megastore on the same day as the Reds’ financial results were revealed and their new home kit was launched.
11:22Jack Flintham
ANALYSIS – What United takeover bidders should make of financial results
Manchester United’s latest financial results have propelled the club forward into a potentially record-breaking year for revenues, but the figures aren’t all good news ahead of a potential takeover this summer.
United have adjusted their revenue estimates to £630million to £640million for a full year after posting their third-quarter results and it was another indication of the strength of the business.
But despite seeing rises in commercial revenue and matchday revenue, the club still posted an operating loss of £4.7million for the three months to March 31, 2023.
That is significantly down from the loss of £21.8million for the same three months last year, but according to football finance expert Kieran Maguire, it is another sign that this is a business that doesn’t make a profit at the moment.
Read more here.
10:59Jack Flintham
Glazers protests on Tuesday
Supporters part of The 1958 fan group took to Old Trafford on Tuesday to protest against the ownership of the Glazers.
In November, the American owners announced they would be seeking further investment in the club.
However, progress has been slow and United fans made it clear yesterday outside the Megastore they want a full sale.
Currently, Sheikh Jassim is the only bidder who is offering this outcome.
10:12Jack Flintham
No news expected on the takeover
Despite the AGM taking place in Rochester, New York today, MEN Sport understands we are unlikely to hear any news on the takeover soon.
Instead, financial sources have claimed it will likelier an announcement will be made after this week.
09:26George Smith
Sheikh Jassim risks ‘missing out’ on ‘dream target’
According to a report by L’Equipe, prospective United buyer Sheikh Jassim may ‘miss out’ on landing ‘dream target’ Neymar, should he complete a takeover at Old Trafford.
The Qatari banker is one of the favourites to become the next custodian at Old Trafford. He has tabled several offers to try and secure full control of the club and oust the Glazer family.
It has been reported elsewhere in recent weeks that Sheikh Jassim had identified Neymar, along with Kylian Mbappe, as one of his ‘dream targets’. However, it is now being reported that the Brazilian international is ‘considering’ remaining at PSG, despite reports of him being prepared to move elsewhere.
09:00Jack Flintham
OPINION: Ratcliffe is sending United a warning amid takeover saga
“Sir Jim Ratcliffe may have his heart set on buying his boyhood club however he should be able to balance the two. Let us not forget, if the INEOS owner is successful with his bid to buy United, he is envisaging running both clubs. You would imagine United would be seen as the senior partner in this relationship and there is little to suggest otherwise. However, the current outlook for Nice at present is a red flag for supporters.”
Click here to read more.
08:21George Smith
What United board members will decide at AGM
People invited to the offices of Woods Oviatt Gilman LLP today have been warned that “no cameras, recording equipment, electronic devices, large bags, briefcases or packages will be permitted in the United Annual General Meeting”.
Attendees received notice of that in bold italics, with the sentence underlined. They may have to pass through security and a photo ID will also be required.
Click here for more details.
07:40George Smith
What United bidders should make of latest financial results
United released their latest financial results yesterday, confirming that their summer transfer plans are not impacted.
The latest results have propelled the club forward into a potentially record-breaking year for revenues, but the figures aren’t all good news ahead of a potential takeover this summer, according to football finance expert Kieran Maguire. Despite seeing increases in commercial revenue and matchday revenue, United still posted an operating loss of £4.7million for the three months to March 31, 2023.
Click here to see what Maguire has had to say.
07:00George Smith
Evra: ‘Can we stop this circus?’
Former United left-back Patrice Evra has called for the takeover situation at Old Trafford to be brought to a close as soon as possible.
It is more than seven months since the Glazers confirmed that they were open to a sale and still no progress has been made, despite the interest from Sir Jim Ratcliffe and Sheikh Jassim.
Evra told The Times:
“We talk about this deal for how many months now? Since November. I think it is important for the fans, for the players and of course for Erik ten Hag. He is the right man [to be manager]. We don’t know who is going to be the new owner. We are already 20 miles back from Manchester City. Now, the question is: Can we stop this circus and find a solution and [have] the owner come as soon as possible? We need to find it now, before the season starts. When the season starts, it is already too late.”
Jack Flintham
United supporters’ group release statement on Glazers protest
After protesting against the Glazers’ ownership of United on Tuesday, The 1958 released the following statement on Twitter in reaction to the day’s events.
The group rounded off the statement by reaffirming their stance of wanting the Glazers out of the club.
Jack Flintham
Good morning
Hello and welcome to MEN Sport’s coverage of United’s takeover on Wednesday, June 28.
We will be keeping you across all the latest developments, rumours and analysis throughout the day in our live blog.
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