Man Utd takeover LIVE as Glazers set third deadline during frustration

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The potential takeover of Manchester United has entered its next stage as bidders such as Sheikh Jassim of Qatar and Sir Jim Ratcliffe are expected to enter a third round of bidding. Parties have reportedly been frustrated with the lack of progress following their second bids to take over from the Glazer family, though the situation has been prolonged as they have been asked to submit bids for the third time.

The Glazers appear dissatisfied with the current offers on the table, as they are aiming to sell the club for over £5billion. Interest remains in regards to minority offers being fielded, which could keep the Glazers at the helm, something which the Glazer family are reportedly split over.

There appear to be approximately seven interested parties that could make third bids to the Raine Group, who are tasked with overseeing the sale, as the firm have asked bidders to make their third offers by the end of April.

The two leading public bidders – Jassim and Ratcliffe – are both expected to lodge further offers, though whether they meet this new deadline remains to be seen, after missing the date for the second round of bids which were deemed lower than the Glazers’ valuation of the club.

In the meantime, United are focusing on their Europa League tie with Sevilla on Thursday and remain in the FA Cup, while looking to secure Champions League next season by finishing in the top four of the Premier League under Erik ten Hag.

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KEY EVENTS

Deadline for third bids

Bidders such as Sir Jim Ratcliffe and Sheikh Jassim of Qatar have reportedly been told to have their third offers for Manchester United submitted by the end of April.

Both Ratcliffe and Jassim are thought to have submitted world-record bids for United already – at approximately £5billion.

However, the Glazer family are holding out for their £6bn valuation to be met and there have been concerns that they still may prefer minority investment.

Frustrated bidders

Whether the news that both Sheikh Jassim and Sir Jim Ratcliffe will have to make a third offer will go down well remains to be seen, as several bidders have been described as “frustrated” during the process.

The Daily Mail have claimed that several parties have been unhappy with the lack of progress since submitting second bids.

Those offers came in on March 23 and 24 from Ratcliffe and Jassim respectively, while both had not heard back from the club until yesterday when they were told that a third round of bidding would take place.

Third round of bids

Last night, news broke that the Raine Group – who are overseeing the sale of United – have asked bidders to submit a third round of offers.

There are believed to be seven bidders that have made either minority or majority offers to the Glazers, but a third round is now set to take place after the current owners were unsatisfied with previous offers.

Bidders such as Sheikh Jassim of Qatar and Sir Jim Ratcliffe have been told to submit their new offers by the end of April.

Good morning

Good morning and welcome to Express Sport’s live blog of the Manchester United takeover, where we will cover all the latest news and updates regarding any potential sale of the club.

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