- Fresh offers for Manchester United are due before the end of the month
- Second bids for control of the Premier League giants were submitted last month
- A third round of bids may suggest the Glazers have not got the price they want
A third – and final – round of bidding for Manchester United is set to begin, with the best offers expected to be accepted before the end of the month.
In a significant development in what has been a long-running saga, those still fighting, including Qatar-based Sheikh Jassim bin Hamad al-Thani and British billionaire Sir Jim Ratcliffe, have been informed that there are now two deadlines.
The first, scheduled for the middle of next week, is about due diligence. The second deadline is April 28 for final bids to be submitted.
It can also be revealed that those close to the process believe United’s owners, the Glazers, are seeking a full sale of the club rather than a partial investment.
They invited bids for control and a stake in exchange for a cash injection, but the early indications are that a full takeover is likely. Nonetheless, some investors are still involved in the process.
Raine Group, the New York-based bank in charge of the sale, as well as spokespeople for Sheikh Jassim and Ratcliffe, declined to comment.
According to reports in the United States earlier on Tuesday, there are seven prospective ownership groups that have received feedback from Raine, though some are skeptical.
The Glazers’ decision to proceed to the final round rather than enter into a period of exclusivity with one group may indicate that they have not yet attracted a price at which they are willing to sell.
It also implies that things must move quickly in order for a new owner to be in place for the upcoming transfer window.
Ratcliffe’s group made a second offer on March 23, followed by Sheikh Jassim the next day. Both were given extended deadlines for submitting bids.
Aside from the two known bids for full control, a number of groups have made offers to take a partial stake in the Premier League giants.
This would allow the Glazers to remain in charge and provide the funds needed to upgrade Old Trafford or build a new stadium, as well as refurbish the club’s training facility.
However, it would be unpopular with a large portion of United’s fanbase.
