Manchester United takeover process hits snag after poor start to new season

Man United have lost three consecutive matches across all competition

This week, The Times reported that Manchester United's dismal embark on to the Premier League season was hurting the club's sale process because potential buyers were less eager to pay the Glazer family's requested cost of in excess of £5 billion.

However, the article asserted that talks between prospective bidders and the Raine Group, a New York bank operating on behalf of the Glazer family, were still ongoing.

The two front-runners to buy the team are still British petrochemicals tycoon Sir Jim Ratcliffe and a Qatari company led by Sheikh Jassim bin Hamad al-Thani, but so far, neither of their offers has come close to the Glazers' asking price.

Ratcliffe and Sheikh Jassim's ambitions to purchase the club, however, received a good update from Sky Sports' Solhekol, who also said that their desire to invest in the club had not been influenced by the team's success this year.

“There is some good news this afternoon for Manchester United supporters who want the Glazers to sell the club.

“Sheikh Jassim of Qatar and Jim Ratcliffe, the British industrialist, both still want to buy Manchester United despite this sale process dragging on for ten months and despite problems at Manchester United on and off the pitch.

“They’ve both made bids which value United at around £5billion. The Glazers at the moment are saying that’s not enough. They want higher offers.

"But one source is telling us this afternoon the longer they demand more money, the more the very asset they're trying to sell is being devalued.

"Of course the Glazers announced in November last year that they may sell Manchester United. United chief executive Richard Arnold told staff on Monday that the process is still ongoing.

"It's our information that as far as the two bidders are concerned, what is happening is on the pitch - United having lost three of their opening five Premier League games of the season - and also what is happening off the pitch, is not affecting their bids at all.

"They still want to buy Manchester United, but of course they know that the Glazer family as a whole have not made up their made yet about whether they want to sell the club and also the valuation they have on the club is much more than anyone is willing to pay at the moment."