PREMIER LEAGUE
Manchester United takeover news: Qatari group expected to make new multi-billion bid on Wednesday
The Glazer family’s resolve could be tested by new bids from both Sheikh Jassim and Sir Jim Ratcliffe.
Sheikh Jassim Bin Hamad Al Thani is expected to make an improved offer to buy Manchester United later this week following promising talks last week.
A member of the Qatari royal family, Sheikh Jassim’s representatives met with the club hierarchy last Thursday in Manchester to gauge the appetite for a deal. Sky Sports News cites sources in the United States that claim that a second bid from the Qatari group will be tabled before the close of play on Wednesday.
Sheikh Jassim is thought to be eager to take full control of the club and his team have already drawn up proposals for additional funding for infrastructure, youth development and the women’s football team.
The Glazer family, Manchester United’s current owners, bought the club nearly two decades ago but are now thought to be willing to sell up if the right offer materialises. They value the club at around $7.3 billion.
This is far in excess of most experts’ valuations of the club, but the Glazers are confident that they can extract a fee of this size when they come to sell one of the most recognisable brands in all of sport.
Will Jim Ratcliffe make another bid for Man Utd?
If the Glazers were to sell the club, the Qatar group is currently thought to be in pole position to take over England’s most successful side. However there is also concrete interest from Sir Jim Ratcliffe.
The Manchester-born billionaire tabled an offer in recent weeks and his own team met with the club shortly after the Qatari delegation.
Ratcliffe, along with his INEOS Sport representatives, was seen visiting Old Trafford last Friday to view the club’s financial documents. The 70-year-old is a Manchester United fan and already owns the French football club OGC Nice.
Last month Ratcliffe submitted a bid to take over 69% of the club, which is the entirety of the Glazers’ current holdings. The rest of the shares are traded on the New York Stock Exchange and he could in theory look to buy them in future. He may wait to see the response to the expected Qatari bid before making his next move.