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No early end in sight on United takeover saga

The Manchester United takeover saga rolls on, with the rumour mill once again causing sharp gyrations in the club’s New York-listed shares. By Friday, the stock had gained more than 25 per cent through the week on reports — later denied — that the Qatari bid was edging ahead of its British-led rival.

Further fuel to the speculation came when Rio Ferdinand, the former United defender, posted a YouTube video while waiting on a train platform in which he said the Qatari takeover was set to be concluded within days. With no football to distract, the atmosphere is febrile.

Despite the surge, United’s share price has yet to return to the highs of mid-February. With football’s summer transfer window kicking into gear, pressure for a resolution is mounting.

The fate of one of football’s most illustrious clubs rests in the hands of the Glazer family — the six siblings who control United through a share structure that grants them supercharged voting rights. Those who know them say they are slow to reach decisions, and may well be divided on how to proceed, in particular on whether they want to retain a minority stake.

Joel and Avram have been more involved in the process than the other four siblings who are directors.  Joel controls 19 per cent of the voting rights.

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