Mystery US bidder joins Qataris and Ratcliffe in final Man Utd takeover stage, but Joel and Avi Glazer not keen on sale
THE splits in the Glazer family over selling Manchester United are in danger of scuppering the whole deal – as a THIRD bidder was understood to have entered the race.
United and their deal handlers, the US-based Raine Group have now invited both Qatari banker Sheikh Jassim bin Hahad al-Thani and Sir Jim Ratcliffe’s Ineos for talks at Old Trafford over the coming fortnight.
But it appears a third un-named, US-based, bid is also in contention and is on the meeting guest-list
But while bidders remain fixed on their goals of taking charge at Old Trafford, there are growing concerns that they might simply run out of time because of the indecision of the current owners.
Two of the Glazer brothers, United co-chairmen Joel and Avram, are believed to be more averse to selling up than their siblings, who aim to split their £6bn valuation.
Yet that inability to confirm they truly want to sell up is causing additional headaches for all the potential new owners.
The main issue is that there is a May 31 deadline for completion of any deal – the day before the summer transfer window opens.
Any successful bidder would be seeking certainty before that date so that they can determine how their transfer policy will play out.
But insiders feel that the legal complications surrounding any sale of United mean the clock is ticking loudly.
Some experts have suggested the due diligence side of evaluating the true value of United, the land surrounding Old Trafford which could site its overdue replacement, the club’s training ground and the estimated £500m extra owed to the Glazers could take as long as two months.
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If that process cannot begin properly for another fortnight, it would take the process through to the middle of May – before any actual price negotiations with Raine and the Glazers began in earnest.
That could also be a protracted issue with one insider admitting: “It all looks a pretty tight timetable.”
The issues might be more critical for Sheikh Jassim’s bid, as the Qatari envisages a 100 per cent takeover while Ineos are seeking to buy out the Glazers’ 69 per cent majority shareholding.
But the uncertainties caused by the issues within the Glazer family means there is still doubt for the current frontrunners over whether there is a genuine willingness to sell, especially as they are both Ineos and the Qataris value the club at nearer £4.5bn than the £6bn asking price.