Journalist David Ornstein has revealed that the Glazers’ proposed sale of Manchester United is hoping to take place in the first quarter of 2023.
That’s what The Raine Group is hoping to complete, with the US-based investment group put in charge of the process of selling the club.
It was reported back in November that the Glazer family were open to selling United with a full takeover rather than a minority sale.
The Glazers’ reign at United began in 2005 and has been thwarted by backlash and protest ever since, and with United set to be 10 years without a Premier League title come May, the door is now finally open for someone new to take control.
Speaking to NBC, Ornstein revealed that a new deal could come to fruition as early as the beginning of next year, such is the Glazers’ desire to sell.
He said: “The Raine bank – who are in charge of this process – they’re aiming for a complete sale of Manchester United in the first quarter of 2023.
“And therefore, the Glazer family are not going to be willing to sanction a massive outlay of cash on deals at this time of the year.
“You’ve got to watch this space on that takeover, because it could be coming very soon and it will be a seismic moment in the history of Manchester United.
“If Raine bank, who are leading this process, get their way, it’s going to be a fascinating few months ahead.”
TIF Thoughts on Ornstein’s comments…
A deal for United’s takeover won’t be an easy one given the £5bn valuation of the club, but it could become smoother with the Glazers now openly admitting they want to relinquish control.
It’s an ownership that has already affected United’s finances, with the Glazers’ acquisition of the club costing United £1.5bn through the use of borrowed money and subsequent debt, according to Kaveh Solhekol.
It is now implicating the current January window with limited money available to Erik ten Hag due to their reluctance to spend amid their seemingly imminent departure.
All parties involved will want to get this deal done as quickly as possible with United embroiled in a top-four chase, while they cannot afford to lose ground on another transfer window such are their problems next month.