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Sheikh Jassim set for talks at Old Trafford over £4.5bn Manchester United takeover

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heikh Jassim and Sir Jim Ratcliffe are expected at Old Trafford over the next seven days to discuss their takeover bids for Manchester United.

Sir Jim Ratcliffe has submitted a bid for Manchester United (Photo credit should read DIRK WAEM/AFP via Getty Images)

Sir Jim Ratcliffe has submitted a bid for Manchester United (Photo credit should read DIRK WAEM/AFP via Getty Images)© Provided by Metro

The Raine Group, who are overseeing the process, have invited four bidders from the initial ‘soft deadline’ to further discuss a takeover of the club.

The two main bids have arrived from Sheikh Jassim and Sir Jim Ratcliffe, with the former bidding for 100% of the club while the latter is seeking a working majority.

Two further bids are believed to have arrived from investment funds in the United States, which may concern United fans as that would point to the Glazers remaining at Old Trafford.

Nevertheless, all four parties have been given clearance through to the next stage of the process, and Ratcliffe is expected to be the first to visit Old Trafford this week.

Sheikh Jassim is heading up a Qatari bid (Picture: Getty)

Sheikh Jassim is heading up a Qatari bid (Picture: Getty)© Provided by Metro

It will be an opportunity for Ratcliffe to hold further talks with the club and to see up close what the stadium requires in terms of renovation.

Old Trafford will either be torn down and a new £2bn stadium built in its place, or receive at least £1bn in investment to make it up to scratch.

Sheikh Jassim is expected early next week and the Raine Group will be able to further ascertain the seriousness of the bids before making a decision on who makes it through to the third round.

The third round will be an opportunity for all bidders to get a full, detailed look at the club’s finances.

Only then will bidders be able to submit a final bid, which the Glazers will hope will meet their £6bn asking price.

Initial hopes were for a takeover to be completed by the end of April but that now seems ambitious.

Source:Metro

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