Avram Glazer and Sir Jim Ratcliffe
Manchester United co-owners Avram Glazer and Sir Jim Ratcliffe (Image: Getty)
Speculation about a possible takeover at Manchester United has been rife in recent years. The Glazer family, who have owned the club since June 2005, have faced increasing fan discontent due to the team's struggles on the pitch, with protests planned ahead of next month's Premier League match against Fulham.
Despite selling a minority stake to Sir Jim Ratcliffe nearly two years ago, dissatisfaction with the co-owner was evident when a banner criticising him was displayed by away fans at Turf Moor during United's Premier League clash with Scott Parker's Burnley side, shortly after manager Ruben Amorim was sacked. Rumours of a potential takeover resurfaced last October when Saudi sports promoter Turki Al-Sheikh hinted on social media of an imminent deal, though nothing materialised.
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Nonetheless, there is speculation that ongoing discussions are underway about potential investment at Old Trafford as future plans are formulated. In light of this, here's a look at the latest.
Glazers theory
Former Premier League chief executive Keith Wyness has suggested that additional income will be needed to fund the proposed construction of a new 100,000-seater stadium.
Speaking to Football Insider, he said: "I've got no doubt there are discussions, and it's the Glazers that hold the key at the moment, and I've got no doubt discussions have happened about the Glazers either bringing in another partner or selling it in some position, and I think Ratcliffe would have little choice on that.
"See the big ramifications of the problems that INEOS have brought on themselves now is things like the debt pile that's still there in his own company, which means that they will not be able to finance through INEOS or give the proper guarantees, possibly for things like the stadium.
Manchester United fans protest
Manchester United fans protest (Image: Getty)
"Now that's a big long-term project that all the fans were told to buy into. If you like, it was the showpiece of the whole INEOS tenure, that they wanted to show that we're going to be moving forward and the great new Old Trafford project was going to be born and with the circus tent.
"And it was impressive, but I'm just wondering now how that could be financed in the same way without bringing in outside finance in a more expensive way and that's going to put more pressure on them.
Sir Jim Ratcliffe timeline
Should the Glazers opt to offload the club, a 'drag along rights' provision within the agreement from when Ratcliffe acquired his minority stake would kick in. This clause essentially establishes a timeframe for any complete sale of the club.
According to the Athletic, should the Glazers wish to offload the club entirely before February next year, Ratcliffe's stake would need to fetch more than the $33million (£24.5m) he originally paid.
Beyond that date, however, the Glazers would be able to accept any offer, meaning Ratcliffe could be compelled to join the sale even if it results in a financial loss for him.
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Sheikh Jassim's proposal
In 2023, the Glazers entered takeover discussions with Qatari billionaire Sheikh Jassim, whose Nine Two Foundation was established specifically to facilitate the acquisition.
A statement released at the time declared: "Sheikh Jassim Bin Hamad Al Thani today [Friday February 17] confirmed his submission of a bid for 100 per cent of Manchester United Football Club.
"The bid plans to return the club to its former glories both on and off the pitch, and - above all - will seek to place the fans at the heart of Manchester United Football Club once more.
"The bid will be completely debt free via Sheikh Jassim's Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the club supports.
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"The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world.
"More details of the bid will be released, when appropriate, if and when the bid process develops."
The bid ultimately fell through, with the Glazers choosing to sell a minority stake to Ratcliffe instead. It appears that Jassim has now abandoned his plans for a takeover via the company.
Companies House records reveal that the Nine Two Foundation company was voluntarily dissolved in September 2024, following a notice given three months prior.