Utd faces a summer of chaos
EXCLUSIVE: Sir Jim Ratcliffe and his INEOS group face a race against time to take control of Manchester United before the summer transfer window opens. writes MARTIN LIPTON.
And that could make you fail £100m transfer for Tottenham star Harry Kane – the striker that the club so desperately needs.
With less than three weeks to go on June 1, Britain’s richest man is still awaiting confirmation that he has the green light to lead at Old Trafford.
Sun Sport announced yesterday as hinted at by brothers Joel and Avram Glazer, co-chairs of the club Ineos’ offer of participation is their preferred choice instead of a full sale to Qatari Sheikh Jassim bin Hamad al-Thani.
But until the decision is confirmed and notified to all parties by Glazer’s chosen dealmaker, the US-based Raine Group, attorneys cannot proceed to the next phase.
Full due diligence could take a month or more, meaning Ineos won’t be able to start making financial decisions until well into June.
And that will have an impact on the United boss Eric ten Hag and his efforts to reshape the roster for next season.
During the process, which began in November, the bidders have made it clear that they intend to fully finalize any change of ownership before the end of this month.
This would allow the new owners to start acquiring and selling players from the start of the summer window rather than having to settle with the competition.
Ineos must also address the critical future issues of the club’s outdated Old Trafford and training base at Carrington, both of which require significant long-term investments.