Ineos owner Jim Ratcliffe and Sheikh Jassim Bin Hamad Al Thani’s bids for Manchester United have been given the green light for the next stage of evaluation.
There have been reports that the Glazers could yet stay at the club, with Joel and Avram Glazer selling only a part of the club. They would be buying out their brother’s stakes in the club to become partners with the new party. However, the situation as of yet remains unclear. What is certain is that Ratcliffe and Sheikh Jassim’s interest in taking over the club is concrete.
Manchester United takeover update: Full takeover bids preferred
While there are reports that the Glazers could sell only a partial stake, Raine Group have also been told to prioritise full takeover bids. The price tag set for the club is an ideal £6 billion. However, both initial bids are below that amount.
There is also a third unnamed group in the race to purchase the club. And all three parties have been asked to attend talks at Old Trafford in the coming days for concrete talks. The main reason behind this is access to data behind Manchester United’s finances.
The parties were offered with a data room in exchange for a confidentiality agreement to assess the club’s books. But that has been deemed insufficient, which is why the three bidders need to meet and get a clearer picture of the way things are.
There is optimism on the Glazers’ part that the purchase procedure will end by April at the latest.
