Man Utd takeover LIVE: World record bid submitted by deadline – latest updates

British billionaire Jim Ratcliffe officially enters the race to buy Manchester United from Glazers

Manchester United have received at least two bids to buy the club as of 9pm tonight at a crucial stage in the takeover saga.

Qatari banker Sheikh Jassim Bin Hamad Al Thani is presented with a world-record bid for the club after a delegation visited Old Trafford for talks last week, while British petrochemical billionaire Sir Jim Ratcliffe has also made an improved second bid.

The Glazers, who bought Manchester United for £790m in 2005 and left the club in debt, want around £6bn, which would be a record sum for a football club. While the Americans are keen on a sale, it’s believed they remain open to the idea of ​​selling just a minority stake in United and retaining control at a time when performance on the pitch is improving under the new manager Erik ten Hag is improving and the prospects are better than they have been for many years.

Follow the latest updates on the acquisition below:

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Manchester United takeover: What’s next?

The deals are being handled by the Raine group, but it’s understood the Glazer family is divided over whether to sell the club or keep a minority stake.

With bids from Qatar and INEOS on the table, a third option would be for minority investors to raise funds to reinvest in the club.

The Glazers would ask a record £6billion for the club if they decide to sell it – a fee The Independent understands that the Qatar group is ready to compete.

INEOS has the means to compete with Qatar’s bid, but it was reported that Ratcliffe had concerns about the price hike being too high.

Jamie BraidwoodMarch 22, 2023 21:28


Takeover by Manchester United

As reported by The Independent This week Qatar increased their offer for Manchester United

One consideration that weighed on the entire process was whether the Gulf state would end up making an offer that “blows everyone out of the water.”

There was an upset that wasn’t the strategy from the start as it would have been very easy for Qatar to go to the Glazers and say they would pay the necessary amount before things got going. Some industry insiders believe this is because they didn’t play their hand that early.

Others involved believe it is part of a new strategy by the state to demonstrate that these are the right business investments.

“They will try to pay the right price,” a source said, “but they insist they are not overpaying.”

Jamie BraidwoodMarch 22, 2023 21:16


Jamie BraidwoodMarch 22, 2023 21:02


Manchester United takeover: Who else bid?

Little or nothing is known about other potential bidders, but it has been reported that US hedge fund Elliott Management has made a proposal that would include offering financing to either new bidders or the Glazers.

Jamie BraidwoodMarch 22, 2023 20:52


Takeover by Manchester United

Sheikh Jassim bin Hamad Al Thani, the son of a former Qatari Prime Minister, is Chairman of the Qatar Islamic Bank.

He said his interest was a private initiative from his Nine Two Foundation and not affiliated with the State of Qatar.

His representatives also visited Old Trafford last week for talks that were understood to be positive and constructive.

Jamie BraidwoodMarch 22, 2023 20:36


Manchester United takeover: who are the other bidders?

Little or nothing is known about other potential bidders, but it has been reported that US hedge fund Elliott Management has made a proposal that would include offering financing to either new bidders or the Glazers.

Jamie BraidwoodMarch 22, 2023 8:19 p.m


Takeover by Manchester United

Sir Jim Ratcliffe, who made an unsuccessful £4.25billion bid to buy Chelsea in 2022, visited Old Trafford last week.

The 70-year-old businessman was born in the Manchester area and has been a United fan since childhood. With an estimated private fortune of £6 billion, he is one of the richest people in Britain.

Jamie BraidwoodMarch 22, 2023 8:15 p.m


Michael JonesMarch 22, 2023 8:00 p.m


What is the difference between Sheikh Jassim and Sir Jim Ratcliffe’s offers?

Although neither Sheikh Jassim nor Si Jim Ratcliffe are believed to have surpassed £5billion with their first bids, both are expected to get closer to the mark when the second round of bidding closes at 9pm tonight.

However, the two offers involved different levels of ownership and put different options on the table for Manchester United as a football club.

Sheikh Jassim wants to complete a full takeover of United, meaning he would buy the 69 percent owned by the Glazer family and then the remaining 31 percent made up of smaller investors. This could take some time as he would need to contact and negotiate with each investor to buy his shares.

The Qatari banker has also made several pledges to invest in certain areas of the club – like the stadium renovation – and leave United in debt after buying Cas.

Ratcliffe’s offer only applies to the Glazers’ 69 percent and a majority shareholder interest. At this time he is not offering to buy out the remaining shareholders.

He would need to borrow money to fund a takeover and his company INEOS has not committed to paying the club’s £656million debt.

Those close to his offer say the club will not be saddled with any new debt but it remains to be seen whether Ratcliffe will repay the debt over time.

Michael JonesMarch 22, 2023 7:50 p.m


Paul Scholes hopes fan unrest will end when Manchester United gets new owners

The Glazer family are considering selling the Old Trafford giants after 18 years of disputed ownership.

The Americans have urged interested parties to submit plans for the club’s further development, which could mean either a full takeover or a significant investment.

So far, two bidders, Ineos owner Sir Jim Ratcliffe and Qatari businessman Sheikh Jassim, have gone public with plans to take full control of the club, but there could be other interests as well.

Former United midfielder Scholes has no preference over who could take charge but just hopes it does so in the interests of harmony.

Michael JonesMarch 22, 2023 7:40 p.m


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