Manchester United owners the Glazers have made a shock U-turn on their decision to sell Manchester United, MySportDab reports.
It is another sad episode in Manchester United takeover process as the Glazers have reportedly twisted their stand on the takeover process at Old Trafford.
The process has been speeding up with the two frontrunners to take over the club, Sir Jim Ratcliffe and Qatari Sheikh Jassim Bin Hamad Al-Thani, attending the presentation which was organized to explore gray area for investments after the first set of bids were submitted.
Sheikh Al-Thani attended the takeover talks and presentation last week a day before Jim Ratcliffe also arrived with his team from INEOS for the presentation and talks.
The negotiations between the club executives and the two frontrunners is said to have proceeded smoothly with hopes all hiccups and hindrances to a deal will be lifted.
Ratcliffe and Sheikh Al-Thani were given 10 days ultimatum to submit their new bids for the club after attending the presentations.
The two investors were reportedly ready to launch their second improved bids for Manchester United as ordered by the club.
Now, reports reaching us from talkSports have confirmed the Glazers have made a major u-turn on the sale process.
The report says Avram Glazer and Joel Glazer, the two leading members of the Glazers family, have “retain reservations on selling the club.”
This is coming when Ratcliffe and Al-Thani have been given until 9pm on Wednesday to submit their second offer for the club.
There were reports the Glazers were dragging Manchester United takeover because they were yet to agree on selling the club totally.
As things stand, it is pretty clear Jim Ratcliffe is more favored to broker a deal with the Glazers because he wants to buy a majority stake instead of an outright take over as aimed by Sheikh Al-Thani.
From the foregoing, the Glazers still want to retain some elements of ownership at the club and are not favorably disposed to total sell of the club.