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Boyhood Manchester United supporter Sir Jim Ratcliffe remains the sole confirmed bidder to take over the club heading into Friday’s ‘soft deadline’ for offers, amid continued reports of interest from Qatar.
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.
American merchant bankers Raine were brought in to assist the club in assessing offers, and on Friday it is thought anyone interested in buying must formally indicate their interest and submit proof of funds.
Ahead of the deadline, here are all the details of those expected to bid:
Sir Jim Ratcliffe
At this stage, only Ratcliffe, one of the UK’s richest men, has publicly expressed an interest.
The Oldham-born billionaire owns INEOS Group, a British chemical company, and has hired American banks JP Morgan and Goldman Sachs to help him during the process.
His company told the PA news agency last month: “We have formally put ourselves into the process.”
Qatar
Following on from hosting the World Cup, the state is keen to own a Premier League club and a bid of some form is expected.
Sky Sports News have reported that investors linked to the Qatari royal family will bid to buy the Manchester club.
The Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund with assets estimated at more than £370bn, has also been linked with a full buyout in other reports.
Qatar Sports Investment – a sub-section of QIA – already runs Paris Saint-Germain with a bid from the nation-state, therefore, needing to prove that the club will be run by different people than those currently in charge of PSG.
A bid from Ratcliffe – who owns French-top flight club Nice, will also raise similar questions due to his involvement in the French club.
UEFA regulations prohibit individuals or legal entities having control or influence over more than one club participating in a UEFA club competition.
Reports of Qatari interest have been criticised by Amnesty International.
Peter Frankental, the human rights group’s UK economic affairs director, told PA last week any Qatari buyout would be a “continuation of (Qatar’s) state-backed sportswashing project”.
Amnesty and other groups have criticised Qatar over its treatment of migrant workers and its criminalisation of same-sex relationships.
We have formally put ourselves into the process
Saudi Arabia
There is also the possibility of interest in United from Saudi Arabia.
Last November, the country’s sports minister Prince Abdulaziz bin Turki Al-Faisal told the BBC that the government would support any Saudi private sector bids for United or Liverpool.
The country’s sovereign wealth fund already owns a controlling stake in Newcastle with a bid therefore likely to come from a different Saudi group.
USA
Potential buyers from America are also expected ahead of Friday’s deadline. Josh Harris and David Blitzer, who attempted to buy Chelsea, are thought to be interested while Joel and Avram Glazer may well make a bid to buy out the club from their siblings.
Elon Musk, the owner of Twitter, has also joked on social media about making a bid for the club and is said to be still interested.
Source:The Independent