Manchester United bidding process to enter THIRD round this month
REVEALED: Manchester United’s bid process enters a THIRD and final round this month as Glazers is left with £6bn…after Sheikh Jassim bin Hamad al-Thani and British billionaire Sir Jim Ratcliffe made a second bid worth around £5 billion submitted
- Sports mail understands that there will be new offers before the end of the month
- Last month, second bids were submitted for control of the Premier League giants
- A third round of bidding could indicate that the Glazers didn’t get the price they wanted
There will be a third – and final – round of bidding for Manchester United, with the best offers before the end of the month.
In a major shift forward in what has been a long-running saga, those still in the fray – including Qatari resident Sheikh Jassim bin Hamad al-Thani and British billionaire Sir Jim Ratcliffe – have been told that there are now two deadlines are.
The first, due midway through next week, relates to due diligence. The second – April 28 – is for the final bids.
It can also be revealed that there is a growing belief among those close to the process that United’s owners, the Glazers, are seeking a full sale of the club rather than a partial investment.
They invited bids for control and for a stake in exchange for a cash injection, but the rumor so far is that a full takeover seems likely. That said, partial investors remain in the process.
British billionaire Sir Jim Ratcliffe (left) and Qatari Sheikh Jassim (right) have been told that there will be a third round of bidding for Manchester United.
New offers should be expected before the end of the month as the acquisition saga takes another turn
A third round of bidding may indicate that the Glazers have not yet received a price they want to sell
Raine Group, the New York-based bank overseeing the sale, declined to comment, as did spokespersons for Sheikh Jassim and Ratcliffe.
Reports in the US earlier on Tuesday claimed there are seven future ownership groups that have received feedback from Raine, although there is skepticism in some quarters about whether that is the case.
The decision to go to a final round, rather than enter a period of exclusivity with one group, may indicate that the Glazers have not yet landed a price at which they would like to sell.
It also means that things have to move quickly before there is a new owner for the upcoming transfer window.
Second offers were made by Ratcliffe’s group on March 23 and by Sheikh Jassim a day later. Both were given extended deadlines to make their bids.
Apart from two well-known bids for full control, there are offers from a number of groups to take a partial stake in the Premier League giants.
Such a move would allow the Glazers to stay in charge and provide the necessary funds to upgrade Old Trafford or build a new stadium and refurbish the club’s training ground.
However, it would not be popular with broad segments of United’s fan base.
