The latest stage of Manchester United’s potential takeover will continue this week as bidders arrive in Manchester for further talks.
Manchester United announced back in November that the owners were looking at ‘strategic alternatives’ for the club, seeking additional investment up to and including a full sale.
Since then, two confirmed bids have been submitted, with Sir Jim Ratcliffe’s Ineos as well as Qatar’s Sheikh Jassim bin Hamad al-Thani having both publically confirmed they have made offers for a full takeover.
There has, however, been reports that a full sale is by no mean guaranteed, with the Glazer family split on their desire to sell. Kevin, Bryan, Edward and Darcie Glazer are all thought to be keen to cash in on their shares, while co-chairmen Avram and Joel Glazer are more open to keeping control of the Old Trafford outfit.
According to the Times, potential buyers are now expected to jet to Manchester from Thursday onwards for further talks regarding their bids to buy the club, with representatives from Qatar due next week.
It has been reported that the opening bids from Sheikh Jassim and Ineos didn’t meet the Glazer’s valuation of the club, believed to be in excess of £5 billion.
The Times’ report says that the New York bankers overseeing the talks, The Raine Group, have invited at least four bidding groups into the second round of talks, which will ‘take place predominantly at Old Trafford’.
They say that bidders will be ‘given the opportunity to assess what is required to redevelop the stadium as well as the club’s training ground’, which could come at an additional cost of around £2 billion.
They say the talks will ‘allow the leading contenders to progress the third round’ and make their final bid, though the bidders are ‘under strict instructions not to comment publicly on the process’.
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