Manchester United ‘s sale will enter a third round of bidding as parties submit final offers
Manchester United will see a third round of bids.
According to Sportsmail, new takeover bids are expected before the end of the month, as the long-running takeover saga takes another turn.
Last month, Qatari banker Sheikh Jassim bin Hamad al-Thani and British billionaire Sir Jim Ratcliffe both made second bids for the Premier League giants. They were thought to be around £5 billion, falling short of the £6 billion sought by the club’s owners, the Glazer family.
Those in the hunt have now been informed that they will be asked to submit additional bids, despite growing frustration over a lack of communication.
Raine Group, the New York-based bank in charge of the transaction, declined to comment. According to reports in the United States earlier today, there are seven prospective ownership groups that have received feedback from Raine, though some are skeptical.
The decision to move to a third round, rather than enter into a period of exclusivity with one group, may suggest that the Glazers have not yet attracted a price at which they are happy to sell.
It also means that things will have to 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, and Qatari Sheikh Jassim followed a day later. 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.