Man Utd takeover: Qataris and Sir Jim Ratcliffe due at Old Trafford for big sell
Sheikh Jassim’s representatives are due at Manchester United on Thursday and Sir Jim Ratcliffe is set to attend a presentation by senior management staff at Old Trafford the following day, the PA news agency understands.
The club’s owners, the Glazer family, announced last November they were conducting a strategic review, with the sale of United one option being considered.
Qatari banker Sheikh Jassim and INEOS founder Ratcliffe have made offers to buy the club to American merchant bankers Raine, which was brought in to assist the club in assessing offers.
READ: The Glazers are going. Now the fight against Qatar for Man Utd’s soul must begin…
Ratcliffe, 70, is due to fly in from Nice on Thursday and, barring any travel complications, attend the presentation by United’s management team alongside INEOS sport representatives.
Elliott Investment Management has also reportedly made it through to the second stage of the process, although the firm is said to be offering funding rather than a takeover.
The PA news agency understands Elliott representatives attended last Thursday’s 4-1 Europa League win against Real Betis at Old Trafford.
The Glazers are desperately trying to convince potential owners that the club is actually worth close to their £6bn valuation after being ‘underwhelmed’ by the opening expressions of interest, according to ESPN.
That report adds: ‘After the second stage of the process, which could conclude by the end of the week, interested parties will be asked to submit revised bids.’
“I think the problem not only for the Qatari bidders but all Man United bidders is that the club is a unicorn asset,” football finance expert Kieran Maguire told Football Insider last month.
“It is a unique asset and therefore there is no such thing as a fair price.
“They are dealing with the equivalent of a work of art and it’s very difficult to value unique assets.”
Manchester United bidders are well aware that both Old Trafford and Carrington need extensive work to bring them up the standard of a superclub that should be challenging for domestic and European titles.
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