The bidding process for Manchester United will enter a third and final round this month, with final offers to takeover the Premier League side due to be submitted on April 28.
United’s current owners, the Glazer family, have invited offers for the Red Devils after announcing plans to explore a sale of the club in November. The Americans have overseen a controversial 18-year ownership at Old Trafford with the decision welcomed across the fanbase.
Interest has been high in a takeover, one which is set to break the world record for the sale of a sports team. Qatar’s Sheikh Jassim bin Hamad al-Thani and British billionaire Sir Jim Ratcliffe have been the most public suitors and have now been informed of two deadlines for proposals this month.
According to the Daily Mail, the first deadline will be next week and in regards to due diligence, before an April 28 date set for final takeover bids.
In addition to the bids from Ratcliffe and Sheikh Jassim, there are a number of groups interested in partial investment, though there is a ‘growing belief’ that the Glazers will seek a full sale.
The decision to move to a third round of bids could suggest the Glazers have not received a bid which matches their valuation, believed to be in excess of £5bn ($6bn).
The record for the biggest takeover of a professional sports club was twice broken in 2022. Todd Boehly’s takeover of Chelsea was understood to be worth an initial $2.99bn, with a guarantee of a further $2.1bn invested in infrastructure. NFL team the Denver Broncos were then purchased for a record-breaking $4.65bn in June.
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