With the deadline nearing on Wednesday, all eyes are on Manchester United’s potential takeover.
Supporters are anticipating the third stage of the sale, in which the Glazers expect up to eight more bids before the clock strikes 9 p.m. Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani remain the frontrunners if the American family decides to leave Old Trafford, albeit a minority stake might still be sold.
Following a successful visit to Manchester last Friday, INEOS CEO Ratcliffe recently stated in an interview that he would not spend “stupid” money to beat his Qatari opponent, while Sheikh Jassim has remained mute. Apart from the takeover drama, Erik ten Hag is focused on the end of the season and a great start to the summer transfer window.
Here’s a roundup of the newest Old Trafford news.
Sheikh Jassim raises his bid to £5.5 billion.
Prince Jassim bin Hamad Al Thani is preparing to raise his bid for Manchester United to a staggering £5.5 billion. Early proposals from Qatari financier and INEOS CEO Sir Jim Ratcliffe were roughly £4.5 billion, significantly shy of the Glazers’ £6 billion target.
While Oldham-born billionaire Ratcliffe is also said to have increased his bid for United, he is not believed to have gone as high as £5.5 billion. Raine, the merchant bank entrusted with handling United’s selling process, has set a deadline for new proposals of 9 p.m. on Wednesday.
Ratcliffe gave a boost in his takeover bid
In better news for Sir Jim Ratcliffe, Manchester United officials were impressed by the sporting knowledge demonstrated by his INEOS sports group during six-hour discussions on Friday. Sir Dave Brailsford, the former cycling leader who now serves as the petrochemical giant’s head of sport, was among Ratcliffe’s entourage, and if INEOS becomes the club’s new owners, he’ll be faced with rebuilding United’s athletic structure.
According to sources with firsthand knowledge of the specific conversations, INEOS’ experience running elite sports teams will be viewed as a key advantage over Sheikh Jassim bin Hamad Al Thani’s proposal. Ratcliffe even shook hands with manager Erik ten Hag during his tour of the club’s Carrington training facilities.