Representatives of Qatari Sheikh Jassim Bin Hamad Al Thani were at Manchester United recently to hold talks over the takeover process. The discussions between the two parties lasted ten hours, with extensive presentations and a tour of Old Trafford.
The feeling between the two parties is positive, and a second bid is expected from them in ten days. However, it remains unclear whether Raine Group, the bank in charge of the screening process, will lock in the Sheikh’s bid or still consider other offers.
Qatar’s bid for Manchester United in positive initial phase
Sheikh Jassim believes his offer to take over Manchester United is the best one. There are plans to invest in the teams, academy, as well as the infrastructure, which has been neglected a lot under the Glazers.
The financial value of the bid placed was upwards of the Glazers’ €5 billion asking price. But the final value is yet to be determined, after the second bid. The Sheikh himself was not present for talks, which concluded in the evening.
Sir Jim Ratcliffe, the owner of Ineos, is one of the other interested parties in taking over the club. He is expected to have personal talks with the club today.
A clearer picture of the bidding stage will be presented once the two parties have made their second offers after talks with the club representatives.
