Proactive Investors - The two named parties interested in taking over Manchester United have had their deadline for second bids extended after missing yesterday’s 9pm cut-off.
Both Ineos owner Sir Jim Ratcliffe and Qatari banker Sheikh Jassim Bin Hamad Al Thani had reportedly made their bids, along with unnamed parties before the deadline set by Raine Group, the bank running the sale process.
However, reports have since emerged that Ratcliffe and Al Thani requested an extension sometime in the last 48 hours which was granted, according to the BBC.
It is currently unclear when the new deadline will be.
Ratcliffe’s first bid launched last month was for 69% of the company, while Al Thani is making a move for a full takeover.
Al Thani’s next bid, when it arrives, is expected to be more than £5bn.
Once all the bids have arrived, Raine will decide on the preferred bidder.
However, the latest twist in the takeover of one of the world’s largest football clubs has fans worried that the Glazer family may decide to stick around.