Manchester United's potential £5 billion takeover progress revealed! UAE consortium invites Cantona as ambassador, no offer yet

During the international break, rumors of Manchester United possibly being bought again attracted global football attention, but no substantial progress has been made so far. Still, transfer expert Ben Jacobs disclosed that the potential deal is not completely fabricated; a UAE consortium is indeed interested and has reached out to Red Devils legend Eric Cantona to join as an ambassador in future initiatives.

Last week, Saudi Arabia's General Sports Authority chairman Turki Al-Alshikh claimed that Manchester United's sale negotiations had entered advanced stages, reigniting fans' hopes of the Glazer family finally leaving.

However, despite some insisting that secret talks between the Glazer family and interested parties are not entirely impossible, Manchester United's official side has denied such claims.

It is believed that if an offer exceeding £5 billion is made, the Glazers would be willing to accept; this amount is more than twice the club's stock market value. They could sell the club outright without needing Sir Jim Ratcliffe's consent due to special clauses.

Jacobs stated that the interested potential buyer is based in the UAE, and they have already contacted Cantona regarding the ambassador role. Cantona, a core figure in the Red Devils' early Premier League dominance, is revered by Old Trafford fans as "The King" and holds significant influence. Cantona does not fully agree with Ratcliffe and INEOS’s management.

Regarding the lead party in the takeover, Jacobs explained: "The most interesting detail I can share is that a UAE company is involved in the talks. It’s unclear if they will ultimately lead the takeover, but this international holding company has a 30-year history! They have been negotiating to form a consortium based in the UAE. We don’t know if there will be any final progress. Some former Manchester United legends have also been invited to participate, not as investors but as ambassadors."

On Cantona’s attitude towards the takeover proposal, Jacobs added: "Some Manchester United legends are excited, with one having engaged in direct negotiations and willing to join the club’s board; however, others feel uneasy and are somewhat skeptical."

Currently, the UAE consortium's takeover of Manchester United remains in the exploratory phase, with no imminent bid expected. Jacobs said: "The latest update is this: first, the Glazers have not received any offers. Could they be negotiating behind the scenes? Absolutely possible. But have any contracts been signed? Definitely not. Where would the money come from? Al-Alshikh has already told us it’s not from Saudi Arabia."

It is certain that the legendary Qatari billionaire Sheikh Jassim, who once competed with Ratcliffe to acquire Manchester United, has permanently withdrawn from the race. In fact, he never truly appeared, and many even doubt his existence.

Jacobs stated: "I don’t want to disappoint Manchester United fans, but Sheikh Jassim will definitely not return to the negotiating table. The information I have says that is completely impossible. Besides, the Glazers’ asking price exceeds £5 billion. If you review the filings Manchester United submitted to the US Securities and Exchange Commission, you’ll see various bids, none close to that figure."

According to the contract terms between the Glazer family and Ratcliffe, if Manchester United is fully sold now, the sale price must not be lower than what INEOS paid. "Ratcliffe’s guaranteed price was $33 per share, which means the club’s total value is around £4.7 billion. Plus, the Glazer siblings want to profit, so £5 billion is not far off. All this means that if someone buys Manchester United now, they will have to pay a premium. Or Ratcliffe could buy 100% of the shares, so there are some variables here."

Jacobs concluded: "I just want to emphasize one point: obviously, the takeover progress is far less advanced than Al-Alshikh suggested, and the Glazers have had no direct contact. Also, no one can guarantee how this will end. However, Cantona is indeed one of the people who have been approached."