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According to Football Insider, Sir Jim Ratcliffe’s INEOS and a Qatari consortium fronted by Sheikh Jassim bin Hamad Al Thani have both submitted soft bids to acquire Man United from the Glazer family.
However, neither party has met the Glazers’ valuation of £6 billion, and it is believed that the sale process could now be delayed until shortly before the end of the season.
Raine Group, who were tasked by the Glazers with overseeing the takeover process, have previously requested that specific financial details remain confidential, but it seems that several instances have occurred where prospective takeover groups or their representatives have disregarded this directive.
Despite protests in response to Newcastle United owners PIF’s apparent admission in a US court case to be a vehicle of the Saudi state and Premier League CEO Richard Masters’ warnings that ownership regimes could be removed if they are retrospectively found to be state-governed, Qatari group do not seem deterred in pursuing Man United’s purchase.
The Qatari consortium and Ratcliffe’s INEOS groups have reportedly filed offers worth between £4.5 billion and £5 billion for Man United.
This article was updated 3 weeks ago