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Qatari sheikh will submit third offer for Man United as new deadline approaches, sources say

Posted : 28 April 2023
Before selecting a preferred bidder to begin an exclusivity period, Raine Group, the merchant bank managing the process for the Glazers, expects a third round of bids on Friday.

Sheikh Jassim, funded by Qatar, and INEOS, led by British billionaire Sir Jim Ratcliffe, will each make new offers, while organizations looking to acquire a minority position, such as Elliott Management, Ares Management Corporation, Sixth Street, and Carlyle, will also make submissions.

According to sources, INEOS has explored an offer that would allow Joel and Avram Glazer, the two Glazer brothers who are most active at Old Trafford, to keep a share in the team. This approach has already drawn a lot of criticism from supporters.

Within his consortium, there is confidence that Sheikh Jassim's offer will be lucrative enough to persuade the Glazers to sell. Sheikh Jassim is only interested in acquiring 100% of the shares and completing a full takeover.

The main roadblock up until now has been the Glazers' valuation of the club at over £6 billion, despite the fact that financial analysts place the value closer to £3 billion.

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