Manchester United are busy working away in the transfer market looking ahead to next season but in the background the club's takeover saga continues to rumble on.
16.06.2023 - 13:01 / manchestereveningnews.co.uk
Manchester United's takeover process is reportedly nearing its conclusion as Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe battle it out for ownership of the club.
On Thursday, a report from Reuters suggested the Glazers were preparing to enter exclusivity talks with Sheikh Jassim, which would be a significant step towards securing the takeover. The same day, the Qatari banker's Nine Two Holdings Limited became a registered company in the UK, albeit this is not thought to be an indicator towards an imminent takeover decision.
Nonetheless, the combined pieces of news sent United's share price rocketing. While various journalists have since contacted sources close to the bid who claim there has been no firm progress, it would appear a takeover decision could be moving significantly closer.
Before either Sheikh Jassim or Ratcliffe can takeover, the prospective owners will first have to pass the Premier League's Owners' and Directors' test. MEN Sport has taken a look at what it is and what both men can expect.
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In brief, the Owners' and Directors' test, also known as the Fit and Proper Persons' test, is designed to stop certain individuals from taking over football clubs. 2The Premier League describes this as: "[Prospective owners who have] criminal convictions for a wide range of offences, a ban by a sporting or professional body, or breaches of certain key football regulations, such as match-fixing."
This test is reviewed on a seasonal basis to avoid owners or directors from abusing the clubs which they own.
Either Sheikh Jassim or Ratcliffe will be put under significant scrutiny by the Premier League with many different criteria being analysed for
Manchester United are busy working away in the transfer market looking ahead to next season but in the background the club's takeover saga continues to rumble on.
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Manchester United's takeover saga continues to rumble on as this week with supporters still in the dark about where the ownership situation stands.
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Manchester United's takeover saga continues to be shrouded in confusion following claims Sheikh Jassim bin Hamad al-Thani has been granted exclusivity in the negotiations to take over.