The Wait Could Finally Be Over For Manchester United Takeover As The EPL Contemplate The Introduction Of Salary Cap
Written By Onyeka Daniel
Since November last year when the Glazers family announced their intentions to listen to offers for the sales of the club, the issue has dragged on all season long but it looks like the issue is about to b3 finally resolved.
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The issue looks to be coming to head amidst several reports that a new owner has emerged and should be announced shortly, barring any last minute changes. The Glazer’s final decision is imminent and an announcement is expected in the coming weeks, at least before the new season kicks off.
Qatari businessman, Sheikh Jassim is competing with INEOS chief executive Sir Jim Ratcliffe for the best part of eight months in the battle to buy United as the two are considered the frontrunners for the takeover.
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A total of five bids have been lodged by Sheikh Jassim and reports from Qatar on Monday suggested that his final offer was enough to convince the Glazers, who’ve been holding out for £6billion ever since putting the club on the market last year.
Despite there being no confirmation, some fans are already bubbling with excitement. To add to the drama, Chairman of the Armasite Group wrote on Twitter: “Congratulations to Sheikh Jassim Bin Hamad Bin Jassim on his acquisition of @manutd.”
The tweet garnered 25,000 likes within 12 hours of posting. Al-Hamdan’s message comes after Qatari outlet Al-Watan, a news organisation which is 50 per cent owned by Sheikh Jassim’s father, claimed that the bid had been successful, all while United’s share price spiked.
Conflicting reports emerged on Tuesday morning, though, with the Press Association explaining that Sheikh Jassim’s camp view the claim of him being successful as ‘pure speculation’ and that – alongside Ratcliffe’s INEOS – they remain remain in a ‘holding pattern’.
The chairman of Qatar Islamic Bank becoming United’s new owner would end the Glazers’ 18-year stay at Old Trafford. There are fears among Premier League clubs that Sheikh Jassim would act as a front for Qatar’s agenda to be pushed through their ruling of United.
So far, no official figure has been given on the bid from Sir Jim Ratcliffe and Sheikh Jassim’s bid has been shrouded in even more mystery. With little information about him being made available, the only concrete evidence United fans have to go off is his initial statement declaring his intention to buy the club.
But owing to his deep pockets, should he be successful in his takeover bid, the club will probably have more money to spend in the transfer window as Erik Ten Hag continues his rebuilding process at the club.
Meanwhile…
There are reports that the English Premier League is planning to introduce a salary cap in the future to help curb the excesses of some clubs and give others a level playing field.
After Newcastle United were recently taken over by PIF, joining Manchester City in the League of clubs directly or indirectly owned by states, Manchester United are also expected to go that route soon and it could bring about a shift in balance if their wealthy owners continue to back them in the transfer market.
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To this end, there are already rumors that the salary cap could be the perfect solution. Already, the EPL is accused of being monopolistic in the transfer market, due to their higher spending power, as we saw Chelsea spend over €500 million in one season on buying players.
This move could help level the playing field a little for other top European Leagues but, there’s no indication yet of when this salary cap would be introduced, that is if it’s allowed to stand in the first place.
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