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

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.

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.”

Sheikh Jassim is understood to have made a second bid to buy world-record Manchester United, with the bid being submitted before today’s 9pm deadline.

Sir Jim Ratcliffe’s offer has also been received, as previously reported.

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.

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.

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.

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.

Both parties – who are the only groups who have publicly expressed their interest – visited Manchester United for meetings last week.

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.

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.

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.