Utd face summer of chaos
EXCLUSIVE: Sir Jim Ratcliffe and his INEOS group face a race against the clock to get control of Manchester United before the summer transfer window opens, writes MARTIN LIPTON.
And that could scupper a £100million move for Tottenham star Harry Kane — the striker the club so desperately needs.
With less than three weeks to go before June 1, Britain’s richest man is still awaiting confirmation he has the green light to take charge at Old Trafford.
Sun Sport revealed yesterday how brothers Joel and Avram Glazer, co-chairmen at the club, have indicated that Ineos’ offer for a stake is their preferred choice rather than a full sale to Qatari Sheikh Jassim bin Hamad al-Thani.
But until the decision is confirmed and relayed to all parties by the Glazer’s chosen deal-makers, the US-based Raine Group, lawyers cannot proceed with the next stage.
Full due diligence could take a month or more, meaning Ineos would not be able to start making financial decisions until well into June.
And that will impact on United boss Erik ten Hag and his efforts to reshape the squad for next term.
Throughout the process which began in November, bidders have made it clear that they wanted any change in ownership to be fully completed before the end of this month.
That would allow the new owners to begin work on player acquisition and sales from the start of the summer window, rather than having to play catch-up with rivals.
Ineos will also have to address the critical issues of the future of the antiquated Old Trafford and the club’s Carrington training base, with both requiring substantial long-term investment.