Rio Ferdinand bemoans lack of 'transparency and clarity' from Man United owners, as fans are left in the dark with takeover saga dragging on for months
- The takeover process at Man United has been ongoing since November 2022
- Sheikh Jassim bin Hamad al-Thani and Sir Jim Ratcliffe are the two front-runners
- Rio Ferdinand slammed the lack of clarity from the Glazers regarding the sale
Rio Ferdinand has slammed the ongoing takeover process at Manchester United and insisted 'transparency and clarity' from the owners is needed.
The race to take control of United continues, with the club originally being put up for sale by the unpopular Glazers nine months ago back in November.
British billionaire Sir Jim Ratcliffe and Qatari royal Sheikh Jassim bin Hamad Al Thani remain the front-runners in the bidding war - being overseen by New York based bank Raine Group - and both parties have submitted multiple bids.
However, despite a new season approaching, the situation still hasn't been resolved, although Mail Sport revealed on Wednesday how takeover discussions are ongoing, with the Glazers continuing to talk to a number of parties.
Nevertheless, United legend Ferdinand bemoaned the ambiguity surrounding the takeover process.
![Rio Ferdinand bemoaned the lack of 'clarity' from Man United's owners regarding a takeover](https://i.dailymail.co.uk/1s/2023/08/03/00/73902513-12367047-Rio_Ferdinand-a-27_1691017419251.jpg)
Rio Ferdinand bemoaned the lack of 'clarity' from Man United's owners regarding a takeover
![Talks and negotiations for the sale of United remain ongoing despite significant delays to a process that began in November 2022 (pictured - United owners Avram and Joel Glazer)](https://i.dailymail.co.uk/1s/2023/08/02/23/72538085-0-Talks_and_negotiations_for_the_sale_of_Man_United_remain_ongoing-a-23_1691017189780.jpg)
Talks and negotiations for the sale of United remain ongoing despite significant delays to a process that began in November 2022 (pictured - United owners Avram and Joel Glazer)
![British billionaire Sir Jim Ratcliffe (above) and Qatari Sheikh Jassim are the two front-runners in the process](https://i.dailymail.co.uk/1s/2023/08/02/23/69713931-0-British_billionaire_Sir_Jim_Ratcliffe_above_and_Qatari_Sheikh_Ja-a-21_1691017182811.jpg)
![The pair have already submitted multiple bids to take ownership of the club since sale proceedings first began in November last year](https://i.dailymail.co.uk/1s/2023/08/02/23/69718497-0-The_pair_have_already_submitted_multiple_bids_to_take_ownership_-a-22_1691017182812.jpg)
British billionaire Sir Jim Ratcliffe (left) and Qatari Sheikh Jassim (right) are the two front-runners in the process and have already submitted multiple bids to take ownership of the club
'The uncertainty surrounding the ownership isn't good for the club,' he told talkSPORT.
'It isn't good for the fanbase at all and I think that needs sorting out. I think new owners right now - given the way the fanbase is at the moment - is needed.
'I just think clarity right now (is important). A lot of the time we've asked for transparency from the owners and clarity for the direction the club is going in.
'In terms of infrastructure, investment etc. it would be nice but that hasn't been forthcoming and that's been disappointing from my standpoint.'
Both Ratcliffe and Sheikh Jassim have lodged bids which value United at around £5bn. While Sheikh Jassim’s offer is for a total buyout, the Ratcliffe proposal is for a staged takeover which would allow members of the Glazer family to retain their interest for a set period.
There remains a confidence among some close to the Sheikh Jassim bid that they will prevail. However, neither group is thought to have got close to the £6bn that the Glazers are reportedly seeking.
That has raised the prospect that the Americans will instead take one of the offers from other investment groups for a partial stake in the club. Sources have disclosed that discussions are taking place ‘with multiple parties’.
![United's hugely unpopular American owners have drained more than £1bn out of the club since their leveraged takeover in 2005 and supporters have regularly protested against them](https://i.dailymail.co.uk/1s/2023/08/03/00/72538375-0-United_s_hugely_unpopular_American_owners_have_drained_more_than-a-24_1691017204227.jpg)
United's hugely unpopular American owners have drained more than £1bn out of the club since their leveraged takeover in 2005 and supporters have regularly protested against them
![Despite nine months passing since the club was put up for sale there's no resolution in sight](https://i.dailymail.co.uk/1s/2023/08/03/00/70268349-0-Despite_nine_months_passing_since_the_club_was_put_up_for_sale_t-a-25_1691017207649.jpg)
Despite nine months passing since the club was put up for sale there's no resolution in sight
The Glazers have have been a source of contention at Old Trafford ever since they became majority owners in 2005, facing significant fan anger and backlash. After taking over the club through a leveraged buyout which placed £525m worth of loans onto the brand of United, they have racked up the club's debts to £536m.
Overall, they have taken more than £1bn out of United in the form of dividends, interests, costs and fees during their 18-year-reign, which has been dominated by a decline in on-pitch performance and success.
United supporters have regularly protested against them, with the latest evidence of dissent taking place at the end of June to coincide with the launch of the club's new home kit.
Fans have continually made their anger known that despite nine months passing, the takeover saga shows no signs of ending soon.
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