Man United bidders told they have 10 DAYS to submit their next offer
REVEALED: Manchester United bidders have been told they have 10 DAYS to submit their next offer… with representatives from rival Qatari and Sir Jim Ratcliffe bids among those heading to Old Trafford this week for presentations
- All parties will meet members of various departments, while also taking tours
- Assessments of how much would be needed for a makeover will then be made
- Groups will then be invited to make their second offers to US bank Raine Group
Those in the hunt for Manchester United have been told they have 10 days to submit their next bid.
On Thursday, representatives from the Qatari offer, revealed by this newspaper, will head to Old Trafford for presentations while on Friday it will be the turn of rival Sir Jim Ratcliffe.
They will meet members of various departments, including football, financial and commercial, while also taking tours of the club’s iconic home and training ground, both of which are in need of significant investment.
Independent assessments of how much would be needed for a makeover – or a makeover or new build in the case of the stadium – will then be made.
Groups will then be invited to make their second offers to US bank Raine Group, who are handling the process on behalf of United’s owners the Glazer family.
Sheikh Jassim bin Hamad al-Thani will not be heading to Manchester for the presentation
Sir Jim Ratcliffe will then travel to Old Trafford on Friday to present his case to takeover the club
Raine will then consult with the Glazers before deciding upon a preferred bidder.
At that stage, the selected offer will then be given full access to the club’s accounts. They could then negotiate further, before a deal is reached.
Sheikh Jassim bin Hamad al-Thani will not be heading to Manchester. Instead, his team – which includes execs from Bank of America, acting for the Qatari and lawyers – will take a train to the city from London.
Sheikh Jassim wants to carry out a full takeover of the club. Ratciffe, the owner of Ineos who wants to take the Glazer family’s 69 per cent stake, is thought to be jetting in from Nice, home of the Ligue 1 club he owns.
Two other bidders, from the US, are thought to be in the frame. Aside from a full takeover a partial investment would also be considered.
Following the conclusion of the presentations, those involved will have 10 days to make the offers which could see them placed firmly into pole position.
The Glazers are entertaining offers for the club but could still only sell a minority share
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