Man United takeover ‘in doubt’ as the club receives two separate bids

The Glazers reportedly won’t lower their £6 billion asking price for the Man United takeover, casting serious doubt on the viability of the entire transaction. In November, the Glazer family made the following announcement: “We are looking for new investment at United, including a potential full sale.”

After months of rumors, this month saw a spike in interest from Qatar, the US, and other Middle Eastern countries. Sir Jim Ratcliffe, a British billionaire, was the first to publicly declare his interest in purchasing United.

The Raine Group, which is managing the sale of United on behalf of the Glazers, then gave prospective buyers a “soft deadline” of 10 p.m. on February 17. Then, official bids started on Friday, first by Qatari banker Sheikh Jassim bin Hamad Al Thani.

The CEO of INEOS, Ratcliffe, then made a new proposal, with both bids reportedly totaling $5 billion. But the Glazers are reportedly demanding a full sale price of £1 billion. The Sun claims they won’t settle for anything less.

An insider said. “It’s still not clear if the Glazers actually want to sell and — if they do — it will only be for top dollar. It’s possible they are keener on a partial sale rather than a full one at this stage — as that might value the club higher”.

A third party may soon join Ratcliffe and Al Thani in the United bidding process. According to reports, US hedge fund Elliott Investment Management has joined the race to buy United.

Although it is rumored that the company does not seek a full Man United takeover. It is estimated that it manages assets worth about £46 billion. According to reports, Avram and Joel Glazer are both amenable to the idea of staying in charge of Old Trafford.

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Fatima Kazi

Noor has managed to enhance her skill when it comes to sports journalism. Her key areas are News, Press Releases, and Awareness Campaigns to build a better sports communities around the world

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