Manchester United sale: Eight offers could be made as Wednesday’s deadline approaches | UK News
Up to eight offers could be made for Manchester United before Wednesday’s deadline for second offers, it is understood.
The Glazer family will certainly sell the club, but only at the right price – with £6billion said to be their valuation.
If their asking price is not met, the owners will raise capital to invest in the club and pay off the debt.
It is believed that Sheikh Jassim bin Hamad al Thani, chairman of Qatar Islamic Bank (QIB), will make a second offer for Manchester United after the visit of its representatives premier league club last week.
British billionaire Sir Jim Ratcliffe, through his chemical company INEOS, is also expected to make a second offer for Manchester United next week after visiting the club on Friday.
The INEOS delegation spent six hours at the club’s Old Trafford stadium and its Carrington training ground, with meetings ending around 4pm on Friday.
Several other interested parties have also visited the club over the past two weeks – and more bidders are also likely to visit this week.
Based on the level of first-round bids, there are no favorites at this time, although one could emerge after Wednesday night’s deadline.
It should not be ignored that the Glazers could keep control of United by accepting a minority deal, with the team’s performance improving considerably and a new strategy now in place.
Sir Jim has hinted they won’t pay more than Manchester United’s chances.
In an interview with the Wall Street Journal, Sir Jim said: “How do you decide the price of a painting? How do you decide the price of a house? paint.
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“What you don’t want to do is pay stupid prices for things because you’ll regret it later.”
However, Ratcliffe, who already owns French club Nice, said his interest in United would be “purely to win things”, calling the club a “community asset”.
Ratcliffe, 70, was pictured outside Old Trafford after meeting club officials – unlike Sheikh Jassim, who had not personally traveled to Manchester the day before.
But sources in the United States say talks last Thursday in Manchester between Sheikh Jassim’s Qatari delegation and United bosses were positive.
Its advisers are currently working on a new offer, which is expected to be submitted by the close of business on Wednesday.
It was previously understood that Qatari bidders were determined not to overpay the club’s chances, but that stance has softened in recent days, coinciding with a delegation visit to Old Trafford.
A Qatari delegation traveled to Manchester from London by train and received a warm welcome. The talks went on for 10 hours – much longer than expected.
Sheikh Jassim and his team members had been to Old Trafford before as fans, and the purpose of this visit was to get an idea of what they could do with their capital investment regarding infrastructure, development youth and women’s team.