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Manchester United demands third and final bids before end of April

Published 12/04/2023, 08:16
Updated 12/04/2023, 08:41
© Reuters Manchester United demands third and final bids before end of April
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Proactive Investors - The ongoing battle for control of Manchester United could be coming to a close with a third – and final - round of bidding set to take place, with best offers to land before the end of the month.

Those still in the running – who include Qatar-based Sheikh Jassim bin Hamad al-Thani and British billionaire Sir Jim Ratcliffe - have been told that there are now two deadlines.

The first, which is in the middle of next week, is related to due diligence. The second – 28 April – is for final bids to drop.

A report in the Mail Online said there is a growing belief among those close to the process that United's owners, the Glazers, are seeking a full sale of the club rather than partial investment.

They invited bids for control and for a stake in exchange for a cash injection but the noises so far are that a complete takeover is looking likely, the report said.

Raine Group, the New York-based bank overseeing the sale, declined to comment, as did spokespeople for Sheikh Jassim and Ratcliffe.

Reports in the US on Tuesday claimed that there are seven prospective ownership groups which have received feedback from Raine, although there is scepticism in some quarters over whether that is the case.

The decision to move to a final round, rather than enter into a period of exclusivity with one group, may suggest that the Glazers have not yet attracted a price at which they are happy to sell.

It also means that things will have to progress rapidly for a new owner be in place for the forthcoming transfer window.

Read more on Proactive Investors UK

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