Man Utd sale to enter third round of bidding with interested parties asked to submit final offers by end of April
Manchester United’s sale process is going to enter a third round of bidding.
Rival bidders have been asked by Raine Group, the firm handling the sale, to submit their final offers by the end of April.
There are believed to be seven interested parties, the majority of whom want to buy a minority stake in the club.
Nottingham Forest
Manchester United
Sunday 16th April 4:00pm Kick off 4:30pm
The two leading bidders who want to buy out the Glazers – Sheikh Jassim and Sir Jim Ratcliffe – are both expected to put in final offers before the deadline.
- Man Utd fixtures | Results | Premier League table
- Get Sky Sports | Download the Sky Sports app
- Live football on Sky Sports
The Glazers want at least £6bn to sell United.
Trending
- Liverpool appear to end interest in Bellingham
- Papers: Real Madrid favourites to sign Bellingham
- How can ‘ridiculous’ slow play be stopped? ‘It just becomes boring’
- Man Utd sale to enter third round of bidding | Neville: Glazers classless
- Man City-Bayern ratings: Dias imperious as Upamecano has night to forget
- Pep: I’m emotionally destroyed | Tuchel: It’s not over yet
- Arsenal ‘very disappointed’ as police move Chelsea fixture to May 2
- LISTEN: Will Verstappen quit over F1 Sprint format?
- Transfer Centre: ‘Forest sound out Sampaoli availability’
- Lamps doubts claim Boehly appointed him Chelsea boss on Corden’s advice
- Video
- Latest News
Sheikh Jassim is believed to be “willing to overpay” for United with a figure closer to the Glazers’ valuation.
It was previously understood the Qatari bidders were determined not to pay over the odds for the club, but that stance softened after his delegation’s visit to Old Trafford in March.
Also See:
Please use Chrome browser for a more accessible video player
FREE TO WATCH: Highlights from Manchester United’s win against Everton in the Premier League.
Sheikh Jassim’s representatives asked for an extension in the previous round of bidding, but the Qatari group did eventually submit an offer which is said to be highly competitive but also considered and rational.
British billionaire Ratcliffe’s INEOS delegation also visited Old Trafford and Carrington before making a second bid for United.
Elliott Management has made an offer to buy a minority stake in the club. The US hedge fund has also offered to finance other parties interested in investing in United and that offer still stands.
Neville: Glazers classless, if they stay it’ll be toxic
Twitter Due to your consent preferences, you’re not able to view this. Open Privacy Options
Gary Neville has called the Glazers “classless” after it emerged that the takeover process would enter a third round of bidding.
“Taking it to a third round is just classless,” the Sky Sports pundit posted on Twitter.
“The market has obviously not given them the answer they want! It’s like they’ve made a pact to each other that they won’t go for less than £1bn each family member. If they stay in after all this it will be toxic!”
Man Utd bidders in profile
A look at the publicly-known bidders for Manchester United…
Sheikh Jassim Bin Hamad Al Thani
The Qatari sheikh is the chairman of Qatar Islamic Bank, one of his country’s biggest banks. His father Hamad Bin Jassim Bin Jaber Al Thani is a former prime minister of the Middle East state. There is relatively little information about him in the public domain, but it is known he attended boarding school in the UK and went on to the Royal Military Academy at Sandhurst, during which time he apparently fell in love with United.
Amid potential controversy about state ownership of clubs, Sheikh Jassim was clear when announcing his bid that his interest was a private initiative through his Nine Two Foundation. He hopes to take 100 per cent control of the club and has vowed, if he does so, to wipe all debts and invest considerably in the club and its infrastructure and support local communities.
Sir Jim Ratcliffe
The 70-year-old Manchester-born businessman is one of the richest people in Britain, with an estimated personal wealth of approximately £6bn. A boyhood United fan who grew up on a council estate, he founded the chemicals firm INEOS in 1998 and oversaw its growth to become a company now worth an estimated £50bn.
His interest in sport has become well known in recent years. He owns French Ligue 1 side Nice and Swiss Super League outfit FC Lausanne-Sport, as well as the cycling team Ineos Grenadiers. Last year he submitted a bid to buy Chelsea, where he once held a season ticket, but ultimately lost out to the American Todd Boehly.
Elliott Management
Elliott Management is a US-based hedge fund that has submitted a bid for a minor stake in Manchester United.
The firm previously owned AC Milan but made a significant profit by selling the club to RedBird Capital for €1.2bn in August 2022.
Elliott took control of AC Milan in 2018 when Chinese businessman Li Yonghong defaulted on a £300m-plus debt to the hedge fund. The firm’s London-based managing partner Gordon Singer remains on the board at the Italian club having retained a minor financial interest.
Figures from Elliott, who initially indicated they would help fund a potential bidder, received a tour of Old Trafford and Carrington last week.
The firm’s continued involvement in the process has led to suggestions the Glazers are looking to stay at United, with their money potentially being used to redevelop the club’s stadium and facilities.
Man Utd’s remaining fixtures
April 13: Sevilla (H) – Europa League, kick-off 8pm
April 16: Nottingham Forest (A) – Premier League, kick-off 4.30pm, live on Sky Sports
April 20: Sevilla (A) – Europa League, kick-off 8pm
April 22: Brighton (N) – FA Cup semi-final, kick-off 3pm
April 27: Tottenham (A) – Premier League, kick-off 8:15pm
April 30: Aston Villa (H) – Premier League, kick-off 2pm
May 4: Brighton (A) – Premier League, kick-off 8pm, live on Sky Sports
May 7: West Ham (A) – Premier League, kick-off 7pm
May 13: Wolves (H) – Premier League, kick-off 3pm
May 20: Bournemouth (A) – Premier League, kick-off 3pm
May 28: Fulham (H) – Premier League, kick-off 4.30pm
TBA: Chelsea (H) – Premier League
Win £250,000 with Super 6!
Another Saturday, another chance to win £250,000 with Super 6. Play for free, entries by 3pm.
Win £250,000 with Super 6!
Another Saturday, another chance to win £250,000 with Super 6. Play for free, entries by 3pm.
Sourse: skysports.com
The post Man Utd sale to enter third round of bidding with interested parties asked to submit final offers by end of April first appeared on 1 News Day, breaking news, sport, business, politics, Science & Health.