Extensions granted for Qatar's Sheikh Jassim
23.3.2023 06:06
Qatar's Sheikh Jassim and Sir Jim Ratcliffe’s INEOS have been granted extensions to submit second bids to buy Manchester United. Both of the top bidders had not submitted their improved offers by Wednesday's 9pm deadline.
The Glazer family have still not indicated how much they want for United, with even the most senior people involved not knowing the asking price. It is understood approaching eight bids were sent in to Raine on Wednesday night, but not all of them are to buy United outright. Sheikh Jassim and Ratcliffe are the leading contenders but there is no favourite at present, with the highest first-round bids having valued the club at around £4.5bn - well short of the Glazer family's widely reported £6bn asking price.
The Raine Group and the Glazers will take around a week to evaluate the new bids.
One bidder could be given exclusivity, although it is more likely there will be another round of bids with a smaller group of preferred bidders.
The Glazer family have still not indicated how much they want for United, with even the most senior people involved not knowing the asking price. It is understood approaching eight bids were sent in to Raine on Wednesday night, but not all of them are to buy United outright. Sheikh Jassim and Ratcliffe are the leading contenders but there is no favourite at present, with the highest first-round bids having valued the club at around £4.5bn - well short of the Glazer family's widely reported £6bn asking price.
The Raine Group and the Glazers will take around a week to evaluate the new bids.
One bidder could be given exclusivity, although it is more likely there will be another round of bids with a smaller group of preferred bidders.