Man Utd sale shambles as Qataris and Sir Jim withdraw bids after deadline change

Manchester United's takeover clash has taken a new twist with both Sheikh Jassim Bin Hamad Al Thani and Sir Jim Ratcliffe withdrawing their bids following a late deadline change.

Raine, a US banking firm overseeing the takeover on behalf of the Glazer family, had set a cut-off point of 9pm on Wednesday (March 22nd) for all interested parties to submit their second revised offers but the bidding period has been extended by 48 hours, amid confusion from some of the prospective buyers.

Sheikh Jassim, 63, had made an eye-watering £5bn offer to purchase the Red Devils, eclipsing the current world record paid for a sports team of £3.75bn forked out to purchase the Denver Broncos last June.

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However, the Qatari banker has now withdrawn his bid and is planning a revised offer to be submitted before Friday's extended deadline. Britain's richest man Sir Jim Ratcliffe, a boyhood Man Utd fan born in Oldham, delayed his forthcoming £5bn bid in light of the announcement.

Raine have indicated there could be as many as eight interested parties by the time bidding closes but only Sir Jim and Sheikh Jassim have publicly stated their intention to bid. The duo were both given a full tour of Old Trafford ahead of Wednesday's initial closing period with Sheikh Jassim given the VIP experience on Tuesday (March 16) before Inoes owner Ratcliffe the following day.

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Ratcliffe, who already owns Ligue 1 side Nice, Swiss outfit Lausanne and a third of F1 giants Mercedes, has an estimated net worth of £11.3bn, according to Bloomberg.

The 70-year-old is understood to be targeting the Glazers' 69 per cent share for majority control whilst Sheikh Jassim, who has assets totalling £42bn as owner of Qatar Islamic Bank, envisages a full takeover and would commence buying out the other shareholders once in post.

A statement from the Qatari banker reads: "The bid plans to return the club to its former glories. The bid will be completely debt free via Sheikh Jassim's Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the club supports.

"The vision of the bid is for Manchester United to be renowned for footballing excellence, and regarded as the greatest football club in the world."

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