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This week, bidders for Manchester United anticipate hearing from those in charge of the process.
According to the Daily Mail, those with knowledge of the matter have said that American merchant bankers Raine Group will seek out to those who submitted offers to purchase or invest in Premier League clubs in the coming days.
The development comes following another tough day for the club’s share price. Earlier this month, this publication disclosed that Qatar will be submitting a proposal, which caused the number to skyrocket.
Who Will It Be: Glazers or New-Bidders?
Nevertheless, following rumors that owners, the Glazer family, are considering remaining in charge of United at one moment yesterday the price had decreased by roughly 13 per cent.
As of now, there are two recognized parties who wish to buy the club. An offer from Qatari Sheikh Jassim bin Hamad al-Thani, which is for full control, and a bid from British billionaire Sir Jim Ratcliffe to take a controlling interest.
A ‘soft deadline’ for proposals fell on February 17. Raine has been evaluating the proposals in preparation for the subsequent procedure. Those in the running are anticipated to be given access to United’s comprehensive financials, after being offered a look following their initial indications of interest.
It seems unlikely that early bids will be accepted, with a period of negotiation poised to follow. There is a suggestion that the Glazers are asking roughly £6bn, a price some consider as unattainable.
As was the case with the bidding process for the sale of Chelsea, also handled by Raine, some of the groups interested may be put into contact with each other with a view to forming consortiums.
Anti-Glazer Sentiment Continues at United
Anti-Glazer sentiment has been typical at United matches this season but the volume was turned up at Sunday’s Carabao Cup final, with Avram Glazer there.
As United drew in on their first title in five seasons loud chanting of “We want Glazers out” could be heard from the United section, while some brandished anti-Glazer placards.
This was despite the fact that the Manchester club were in a winning position for most of yesterday’s EFL Cup Final against Newcastle and went on to lift their first silverware under the management of Erik ten Hag.
Avram and Joel could, in principle, leverage investment proposals to pay off the remaining four family members and redevelop Old Trafford and the club’s training facility.
How that would be received by supporters is unknown. After United’s support for the subsequently-aborted European Super League, their match with Liverpool in May 21 was abandoned when protesting fans managed to break into Old Trafford.
It is believed that Al-Thani, son of a former prime minister and chairman of one of Qatar’s largest banks, watched the game with his family at his home in Doha. Friends claim he wears the club’s jersey in weekly five-a-side contests.
A number of bidders are concerned that they have not received a response beyond the deadline.
This sentiment was heightened by revelations over the weekend that bids for the club were below the Glazers’ valuation, which surfaced after Raine instructed those involved to remain silent.
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