Manchester United have set their deadlines for the third round of bids. And Sir Jim Ratcliffe has reportedly surpassed Sheikh Jassim Bin Hamad Al Thani’s bid for the club valued at £5 billion.
While Qatar’s offer is to buy 100% of the club, the Ineos owner has only bid for 69% of the club. This would see Joel and Avram Glazer still remain as minority shareholders of the club. They could also choose to sell a little over 50% of the club, which would see the Glazers still remain in spite of mass protests from fans.
Manchester United bidding process: Sir Jim Ratcliffe races ahead
Both parties were understood to have submitted offers earlier. But, it was later revealed that they both asked for an extension. Sheikh Jassim’s bid was also valued at over £5 billion, but it now appears that the actual valuation was lower than that, and that Ratcliffe’s bid is actually higher.
Ineos has reportedly valued Manchester United higher than Sheikh Jassim throughout the bidding process. But since the QIB chairman wants total control over the club, it could actually hurt their chances.
A decision will be made by the Glazers between a week to 10 days, as to which bid they want to proceed with. They also have offers from the USA over minority stakes in the club which would see them earn around £1-2 billion to invest into the club.
