Manchester United, Battle Ground For Sheikh Jassim and Sir Jim Ratcliffe 

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Manchester United
Image of Manchester United's stadium, Old Trafford. Photo taken by André Zahn from Wikipedia.

The battle to take control of Manchester United has become chaotic after the deadline for the second round of bids was unexpectedly extended. The Qatari banker, Sheikh Jassim bin Hamad al-Thani, and Sir Jim Ratcliffe, the owner of Ineos, had initially claimed that their bids were submitted before the deadline. 

Who will the next owner of Manchester United be? 

However, it was later revealed that Ineos had requested more time to submit their bid. A new deadline has yet to be confirmed, but Ineos expects to submit their bid within 24 hours. The Qatari consortium is waiting to hear from the Raine Group, the banking firm in charge of the sale, before submitting their bid. Both bidders are expected to offer more than the highest first-round bid of around £4.5bn, but sources warn that their bids may fall short of the Glazers’ desired asking price of £5bn to £6bn. 

Only two offers have been publicly declared, with Sheikh Jassim bidding for 100% of the club and Ineos targeting the combined Glazer shareholding of around 69%. A third option is for the Glazers to retain the club but sell a minority stake to a US hedge fund.

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Manchester United
Image of Manchester United’s stadium, Old Trafford. Photo taken by André Zahn from Wikipedia.

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