Man Utd may be sold for highest record of £5bln as bid deadline nears

By Al Mayadeen English
Source: Agencies
22 Mar 2023 14:54
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The difference between both bids is that Sheikh Jassim's bid is to buy all of United's shares, while Ratcliffe intends to buy the 69% stake owned by the Glazers.

A logo of English footbal club, Manchester United, in Davos, Switzerland in January 2023. (Bloomberg)

Manchester United will be sold for a record-setting price, as officials show confidence in predicting to receive bids of more than £5 billion, as the bid deadline is due today on Wednesday. The highest record price in a sports bid was $4.65 billion paid last year for the US NFL's Denver Broncos team.

Two bids are competing, one by Qatari Sheikh Jassim bin Hamad al-Thani and one by rival Sir Jim Ratcliffe, however another round of bids may be expected to take place before Easter to choose the final buyer. The Glazer family are Manchester United's current owners.

Sheikh Jassim bin Hamad Al Thani's representatives met last week with the hierarchy in Manchester, and Ratcliffe, the owner of Ineos and Britain's richest man, visited a day after. The negotiations process is being managed by US bankers Raine Group.

The difference between both bids is that Sheikh Jassim's bid is to buy all of United's shares, while Ratcliffe intends to buy the 69% stake owned by the Glazers.

Tours of the Old Trafford stadium and training ground were given to a total of eight groups in a two-week period. US firm Elliott Investment Management, who previously offered to present a bid, were among the eight.

During the presentations, however, no one from the Glazer family was present.

The announcement of a bid to purchase Manchester United has raised questions about the possible effect on Paris Saint-Germain's future, as the club was bought by Qatar Sports Investments (QSI) in 2011.