Football finance expert Kieran Maguire has uncovered a “false flag” amid rumors of a planned takeover of Manchester United by a UAE-based consortium.
Saudi boxing promoter Turki Al-Sheikh caused a stir among Manchester United fans last week when he claimed a potential takeover of the club was “proceeding”.
“The best news I heard today is that Manchester United are currently in the advanced stages of completing a sale agreement to a new investor. I hope he is better than the previous owner,” Al-Sheikh wrote in X.
But Al-Sheikh had to clarify his comments following speculation that he or another Saudi national was somehow involved in the potential acquisition.
The next day, Al-Sheikh posted again, saying: “Yesterday’s post about a possible sale of Manchester United means one thing: the club is in advanced stages of negotiations with a new investor.”
“To be clear, I am not an investor and they are not from my country. I am posting this as a fan hoping for a deal to happen, but that doesn’t necessarily mean it will happen.”
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Rumors have since circulated that a UAE-based consortium has held “talks” with Man United officials in London over the possibility of buying the club from the Glazer family.
It has emerged that drag-along rights included in the INEOS minority takeover could mean Sir Jim Ratcliffe could be forced to sell his stake if a new bidder emerges for the club.
Football finance expert Maguire cast doubt on the takeover rumors, telling United in Focus:
“The fact that nothing is happening speaks for itself. Yes, the stock price is going up and I am monitoring it myself.
“We are still at $16 or $17, but there is a speculative element to this.
“Thus, while Turki Al Sheikh’s comments are interesting, the club has given a pretty strong ‘no’ response and, given that they are listed on the New York Stock Exchange, they need to be careful about what they say publicly.
“So I think what we’re seeing is a bit of a false flag. If someone wants to participate in a bid, Twitter is not the best place to put that information out.”
“Then I’m curious about the motives of some of the people involved.”
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Journalist Ben Jacobs provided a comprehensive update on the potential acquisition earlier this week, claiming that the Glazer family had not yet received an offer from any party.
Speaking from the United Stand, Jacobs said: “Here’s the latest situation: First, the Glazers didn’t have any offers from anyone.
“Could they be negotiating behind the scenes with other people behind the club? Of course they are. Are they making progress? No. So where will the money come from? Well, Turki Al Sheikh admits on this show that we have broken and it is not Saudi Arabia.”
“I don’t want to disappoint the conversation, but Sheikh Jassim is not coming back to the table. I’ve heard there’s no chance of that happening. On top of that, the number the Glazers want is in excess of £5bn. And when you go back through the SEC filings and look at the various bids in form, there aren’t any offers that come close to that number.
“And this number would be even higher if the Glazers were to sell while this deferral clause is in effect. That means Jim Ratcliffe is guaranteed $33 per share, giving the club an overall valuation of approximately $4.7 billion.”
“Again, that £5bn figure is not that far off. And all this means that if someone were to buy the club now, they would have to pay a premium and then Sir Jim Ratcliffe would have to go and buy 100% of the wanted, so there are some variables here.”
Mr Jacobs added: “The last and most interesting thing to add, and I think this is specific to the United Stand, is that certain companies within the UAE are involved in these negotiations.
“It is unclear whether they will spearhead the consortium, but the International Holding Company or IHC, which has been established for some 30 years, is participating in discussions to finalize the vision for a UAE-based consortium.
“I don’t know if anything will materialise or not. And as I said on talkSPORT a few weeks ago, some former Manchester United legends have also been approached to just be ambassadors, not investments.”
“Very interestingly, I think some people will be excited, others will be excited and some people will feel that the way he looks at this is not entirely correct because of his personality. One ex-Manchester United legend in particular has been in direct discussions that he might possibly be involved.”
Mr. Jacobs continued: “One thing I would like to emphasize is that obviously it’s not as advanced as Turki implied, and the Glazer family has no direct contact with it.
“But there’s no guarantee this will develop into anything. But Eric Cantona is one of the names being approached.”
