Manchester United’s new owner could be confirmed when the club report their third quarter fiscal earnings on June 27, according to Benzinga.
The Glazers started the takeover process in November last year, and it was anticipated that they could end their association with the club within a few months.
However, that has not been the case. We are almost into July without a final decision, but Benzinga now claim that the new owner could be unveiled within hours.
The US financial news website report that ‘Manchester United PLC is about to get sold’.
They add that the likely winner of the United auction is Sheikh Jassim bin Hamad Al Thani of Qatar, who made the final purchase bid earlier this month.
United are expected to report their earnings for the third quarter fiscal later today.
A Mergers and Acquisitions source told Benzinga: “The results [of the sale] from a bidder perspective will already be known.”
“I’m genuinely not sure what the hold up is here.”
United takeover saga could finally end
United have had a prolonged takeover saga which has led to frustration among the faithful.
It was anticipated that the new owner would take control of the club before the end of last season, but we are now into the business end of the summer transfer window.
Benzinga believe Sheikh Jassim will be the new owner before the end of the day. The news should delight fans, who are eager to see the departure of the Glazer family.
However, it remains to be seen whether United can benefit from the takeover this summer. It has been claimed that the approval process could take eight to 10 weeks.
In that case, United won’t receive a financial boost and will have to recoup funds from player sales to increase their initial summer transfer budget of £120 million.
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