Manchester United Sale: Deadline Extended For 2nd Bids

Cat:

Related stories

PDP Reinstates Wike’s Ally, Anyanwu, Rejects Ude-Okoye As Nat’l Secretary

Cancels NEC Meeting By Kolawole Ojebisi In a dramatic twist...

Peter Obi Blasts Sanwo-Olu Over Alleged Illegal Demolition of Brother’s Lagos Property

By Abiola Olawale The 2023 Presidential candidate of the Labour...

Worsening Insecurity: Ndume Threatens to Abandon APC

By Abiola Olawale Senator Ali Ndume, the lawmaker representing Borno...

Agency Report

Bidders trying to buy Manchester United have been given more time to submit second offers for the iconic soccer team.

The deadline for the latest round of bids had been set for 9 p.m. Wednesday, but American merchant bank Raine has agreed to an unspecified extension to allow interested parties to fine-tune their proposals.

A person with knowledge of the process confirmed the extension. The person spoke on the condition of anonymity because they were not authorized to comment publicly.

Sheikh Jassim bin Hamad Al Thani has outlined his intention to make a second offer for United and British billionaire Jim Ratcliffe is also expected to bid, although neither met Wednesday’s deadline. Both submitted indicative offers last month.

Sheikh Jassim, the chairman of Qatar Islamic Bank, has said he wants to return the club to the summit of the sport if he is successful in buying out current owners, the Glazer family.

His latest bid is ready and will be made to Raine, another person with knowledge of the process said. The person also spoke on condition of anonymity because they were not authorized to comment publicly.

United is expected to become the most expensive sports team in history, with the price estimated to reach up to $6 billion.

Sheikh Jassim and Ratcliffe are the only contenders to have publicly declared their intention to buy the 20-time English league champions.

Sheikh Jassim, the son of a former Qatari prime minister, sent a delegation to Manchester last week to meet with United executives.

Ratcliffe, owner of petrochemicals giant INEOS, also held meetings with United last week.

Sheikh Jassim is said to be confident in his bid to buy 100% of the club and plans to invest in the stadium, training ground and playing squads.

Ratcliffe has spoken of his intention to take a “fan centered” approach to ownership, adding that he is focused on United winning the Champions League for the first time since 2008.

He is bidding for a majority ownership.

Last year, Raine handled the sale of Chelsea to Todd Boehly and Clearlake Capital for about $3 billion. The Denver Broncos were also sold last year to Walmart heir Rob Walton and his daughter and son-in-law for a record $4.65 billion.

The Glazers announced in November that they were exploring “strategic alternatives.” It is not certain they will cede total control of the club they have owned since 2005, with minority investment also a possibility.

The New Diplomat
The New Diplomathttps://newdiplomatng.com/
At The New Diplomat, we stand for ethical journalism, press freedom, accountable Republic, and gender equity. That is why at The New Diplomat, we are committed to speaking truth to power, fostering a robust community of responsible journalism, and using high-quality polls, data, and surveys to engage the public with compelling narratives about political, business, socio-economic, environmental, and situational dynamics in Nigeria, Africa, and globally.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

[tds_leads input_placeholder="Your email address" btn_horiz_align="content-horiz-center" pp_msg="SSd2ZSUyMHJlYWQlMjBhbmQlMjBhY2NlcHQlMjB0aGUlMjAlM0NhJTIwaHJlZiUzRCUyMiUyMyUyMiUzRVByaXZhY3klMjBQb2xpY3klM0MlMkZhJTNFLg==" pp_checkbox="yes" tdc_css="eyJhbGwiOnsibWFyZ2luLXRvcCI6IjMwIiwibWFyZ2luLWJvdHRvbSI6IjQwIiwiZGlzcGxheSI6IiJ9LCJwb3J0cmFpdCI6eyJtYXJnaW4tdG9wIjoiMTUiLCJtYXJnaW4tYm90dG9tIjoiMjUiLCJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3NjgsImxhbmRzY2FwZSI6eyJtYXJnaW4tdG9wIjoiMjAiLCJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn0sImxhbmRzY2FwZV9tYXhfd2lkdGgiOjExNDAsImxhbmRzY2FwZV9taW5fd2lkdGgiOjEwMTksInBob25lIjp7Im1hcmdpbi10b3AiOiIyMCIsImRpc3BsYXkiOiIifSwicGhvbmVfbWF4X3dpZHRoIjo3Njd9" display="column" gap="eyJhbGwiOiIyMCIsInBvcnRyYWl0IjoiMTAiLCJsYW5kc2NhcGUiOiIxNSJ9" f_msg_font_family="downtown-sans-serif-font_global" f_input_font_family="downtown-sans-serif-font_global" f_btn_font_family="downtown-sans-serif-font_global" f_pp_font_family="downtown-serif-font_global" f_pp_font_size="eyJhbGwiOiIxNSIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_weight="700" f_btn_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_transform="uppercase" btn_text="Unlock All" btn_bg="#000000" btn_padd="eyJhbGwiOiIxOCIsImxhbmRzY2FwZSI6IjE0IiwicG9ydHJhaXQiOiIxNCJ9" input_padd="eyJhbGwiOiIxNSIsImxhbmRzY2FwZSI6IjEyIiwicG9ydHJhaXQiOiIxMCJ9" pp_check_color_a="#000000" f_pp_font_weight="600" pp_check_square="#000000" msg_composer="" pp_check_color="rgba(0,0,0,0.56)" msg_succ_radius="0" msg_err_radius="0" input_border="1" f_unsub_font_family="downtown-sans-serif-font_global" f_msg_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_size="eyJhbGwiOiIxNCIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_weight="500" f_msg_font_weight="500" f_unsub_font_weight="500"]

Latest stories

NDN
Latest News
Zambia: Drama As Court Halts Ex-president, Lungu's Burial as War Between Hichilema and Lungu's Family RagesPDP Reinstates Wike's Ally, Anyanwu, Rejects Ude-Okoye As Nat'l SecretaryTears As Former Kwara Gov, ex-minister, former Senator, NADECO Titan, Cornelius Adebayo Dies at 84Peter Obi Blasts Sanwo-Olu Over Alleged Illegal Demolition of Brother’s Lagos PropertyWorsening Insecurity: Ndume Threatens to Abandon APCTinubu Congratulates Sanwo-Olu on his 60th BirthdayRanked: The 50 Poorest Countries by GDP Per Capita in 2025Barde Visits Atiku, Restates Resolve to Rescue GombeThe Oil Price Shock No One Saw ComingTrump Signals Strategic Shift: China Can Buy Iranian OilCourt Fixes October 7 For Arraignment Of MultiChoice CEO, Others Over Alleged Investigation ObstructionINEC Speaks On Why Atiku, El-Rufai, Others' Proposed Party, ADA, Hasn't Been RegisteredPDP National Secretary: NEC Boss, Yakubu, Asks PDP to Clear Air on Anyanwu, Ude-Okoye's StatusAlex Zingman: Atiku Faults Tinubu Again, Demands Clarity On 'Chicago Classmate'Abuja: US Warns Citizens To Avoid Military, Govt. Facilities Amid Iran-Israel Conflict
X whatsapp