Author – Amrit Santlani
Manchester United’s potential buyers, Qatari banker Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe’s Ineos Group have submitted their final offers to buy the Premier League giants.
According to a report by BBC Sport, the two main parties wishing to acquire United have made their final offers to the Glazer family, who own the club. The last bidding deadline had expired on Friday, with the Glazers looking to evaluate the two offers received.
Both Sheikh Jassim and Sir Jim Ratcliffe had hoped for a swift resolution to the situation, with negotiations for a possible sale of United beginning in November.
The same report adds that Sheikh Jassim’s offer is around 5 billion pounds, and that includes a sum that would go straight into the Glazers’ pockets.
The Qatari banker also planned to make a significant investment in Manchester United’s infrastructure, including the Old Trafford Stadium.
The deadline for the third offer made by Ineos and Sheikh Jassim was for potential buyers seeking a complete takeover of the club, unlike the Americans Elliott and Carlyle, who are looking to buy a minority stake.
Finnish businessman Thomas Zilliacus also applied after previously making an offer, but has said he will not submit a new bid, meaning that Sir Jim Ratcliffe and Sheikh Jassim remain the only two interested parties.
To ensure a smooth sale, investment bank Raine Group was sent in to handle the sale, after facilitating Chelsea’s sale previously.
Previously, there was a set deadline for potential bidders to express their interest in February, followed by a second deadline last month, while Friday was the last deadline for making bids.
The BBC report adds that a great deal of analysis has already been carried out, and all parties involved believe that the sale should be completed before the end of the season.