Kieran Maguire reveals the real reason for ‘disgraceful’ Man United takeover timing
The timing of the Man United takeover was ‘disgraceful’ and was designed to help the Glazers earn cash quicker.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about the decision to announce Sir Jim Ratcliffe’s takeover on Christmas Eve.
United published a club statement announcing Ratcliffe’s takeover in the afternoon of Christmas Eve, putting an end to the 13 months of discussions since the Glazers put the club up for sale.
The British billionaire completed a £1.3billion deal to acquire 25 percent of the club’s shares as well as sporting control at Old Trafford.
Former Red Devil star Gary Neville labelled the timing ‘truly awful’ following the takeover announcement, adding that “no functioning organisation would even think about it.”
Maguire explained that the timing of the takeover was due to the opening times of the New York Stock Exchange on Boxing Day.
“I was dressed up as Father Christmas when the takeover was announced,” Maguire told Football Insider’s Sean Fisher.
“The disgraceful timing of it all is indicative of the failure of the Glazers to take anybody’s priorities into consideration other than their own.
“It has taken 13 months for the deal to get this far, the only reason it had to be announced at 4pm on Christmas Eve was that they wanted to put through the documents to the New York Stock Market on time on Boxing Day.
“The lawyers certainly won’t complain and for the Glazers it’s one step closer to getting paid and getting their hands on cash.
“It will be dressed up as a Christmas present for United fans but the timing represents the contempt the Glazers have for the club and the fans.“
In other news, Kieran Maguire says Man United have made just three ‘value-for-money’ signings since Sir Alex Ferguson retired