Qatar’s Sheikh Jassim and Sir Jim Ratcliffe have been granted extensions for the submission of their second bid to buy Manchester United. By Wednesday’s 9 p.m. deadline, neither of the leading bidders had presented their enhanced bids. The Glazer family has yet to specify how much they want for United, and even the most senior members of the team are unaware of the asking price. On Wednesday night, Raine received approximately eight bids, but not all of them sought to acquire United outright. The Qataris think they have the finest offer for the team, its fans, and the city as a whole.
Sheikh Jassim and Ratcliffe are the frontrunners to buy Manchester United, but there is no clear favorite at the moment, with the highest first-round bids valued at roughly £4.5 billion, significantly short of the Glazer family’s widely reported £6 billion asking price. The Raine Group and the Glazers will analyze the fresh bids for about a week. One bidder may be granted exclusivity, although it is more likely that another round of bids will be held with a smaller number of preferred bidders. Ratcliffe and his INEOS group were characterized as impressive and smart in their approach after spending six hours at the club last Friday.
Ratcliffe says he will not pay a “stupid” price for United, but his interest is “purely in winning things,” describing the team as a “community asset.” Previously, it was believed that the Qatari suitors were keen not to overpay for the club, but that stance has shifted in recent days, coinciding with a delegation’s visit to Old Trafford. A Qatari group arrived in Manchester by train from London and was greeted warmly. The discussions lasted 10 hours, far longer than intended.
Sheikh Jassim and his crew had previously visited Old Trafford as fans, and the goal of this visit was to gain insight into what they might accomplish with their substantial investment in infrastructure, youth development, and the women’s squad. Any bid beyond £3.75 billion would shatter the world record for a sports club set when the Denver Broncos were sold last summer. The Washington Commanders are also for sale and are likely to fetch a higher price.
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