REVEALED: Manchester United bidding process to enter a THIRD round this month as Glazers hold out for £6bn after Sheikh Jassim bin Hamad al-Thani and British billionaire Sir Jim Ratcliffe tabled second offers worth around £5bn
- Sportsmail understands that fresh offers are due before the end of the month
- Second bids for control of the Premier League giants were submitted last month
- A third round of bids may suggest the Glazers have not got the price they want
A third round of bids for Manchester United is to take place.
Sportsmail understands that fresh offers are due before the end of the month as the long-running takeover saga takes another twist.
Both Qatari banker Sheikh Jassim bin Hamad al-Thani and British billionaire Sir Jim Ratcliffe submitted second bids for control of the Premier League giants last month. They were thought to be around £5bn, short of the £6bn the club’s owners, the Glazer family, are reportedly seeking.
Amid growing frustration at a lack of communication, those in the hunt have now been informed that they will be asked to lodge further bids.
Raine Group, the New York based bank overseeing the sale, declined to comment. Reports in the US earlier today claimed that there are seven prospective ownership groups which have received feedback from Raine, although there is scepticism in some quarters over whether that is the case.
British billionaire Sir Jim Ratcliffe (left) and Qatari Sheikh Jassim (right) have been told their will be a third round of bidding for Manchester United
Fresh offers are due before the end of the month as the takeover saga takes another twist
A third round of bids may suggest the Glazers have not yet received a price they want to sell
The decision to move to a third round, rather than enter into a period of exclusivity with one group, may suggest that the Glazers have not yet attracted a price at which they are happy to sell.
It also means that things will have to progress rapidly for a new owner be in place for the forthcoming transfer window.
Second offers were made on March 23 by Ratcliffe’s group and a day later by Qatari Sheikh Jassim. Both were given extended deadlines to place their bids.
Aside from two 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 funds necessary to upgrade Old Trafford or build a new stadium and refurbish the club’s training ground.
Source: Read Full Article