Manchester United takeover news: Latest as Qataris and Sir Jim Ratcliffe prepare bids – live updates
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Manchester United are preparing to receive multiple bids for the club today in a crucial stage of the takeover saga.
Qatari banker Sheikh Jassim Bin Hamad Al Thani will make a second bid for the club following a delegation who visited Old Trafford for talks last week, while British petrochemicals billionaire Sir Jim Ratcliffe is also expected to put forward a fresh proposal. However, there are also reports that several other parties are interested in the club.
The Glazers, who bought Manchester United for £790m in 2005 and saddled the club with debt, want around £6bn, which would be a record fee for a football club. While the Americans are keen to sell, it is thought they remain open to the idea of selling only a minority stake in United and retaining control, at a time when performances on the pitch are improving under new manager Erik ten Hag and the outlook is more positive than it has been for many years.
Follow all the latest news and updates on the takeover below.
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Sir Jim Ratcliffe will not pay ‘stupid money’ for Manchester United
Sir Jim Ratcliffe says he will not pay a “stupid” price to acquire Manchester United as the petrochemicals billionaire prepares to go up against Qatari Sheikh Jassim in the race to buy the Premier League club.
The INEOS chief executive and his team held talks with United last Friday during a visit to Old Trafford and the Carrington training complex.
In an interview with the Wall Street Journal, the 70-year-old said: “How do you decide the price of a painting? How do you decide the price of a house? It’s not related to how much it cost to build or how much it cost to paint.
“What you don’t want to do is pay stupid prices for things because then you regret it subsequently.”
Eight bids expected to come in for Manchester United
There could be as many as eight bidders who send proposals to the Glazer family before Wednesday’s deadline as part of the next stage of the Manchester United takeover.
The two main bidders remain Sir Jim Ratcliffe and Sheikh Jassim bin Hamad al-Thani of Qatar who went public with their initial bids but Sky Sports claim that six other proposals could rival them as the Glazers weigh up the best offers.
Other interested parties have decided to remain anonymous but that could change after Wednesday’s deadline if the current owners like one of more of their proposals.
Qatar ready to increase Manchester United offer amid new strategy to secure takeover
Qatar is expected to significantly increase their offer for Manchester United this week, with the big question being whether it will be enough to go beyond INEOS’ valuation of the club, and ultimately match that of the Glazer family.
That also reflects one of the considerations that has weighed over the entire process, which is whether the Gulf state will ultimately just put up the bid that “blows everyone out of the water”.
There has been some surprise that hasn’t been the strategy from the start, given that it would have been very easy for Qatar to go to the Glazers and say they would pay the necessary amount before it all got under way. Some industry figures believe that is down to not playing their hand so early.
Others, somewhat connected to that, believe it is part of a new strategy from the state to illustrate these are proper business investments.
Qatar ready to increase Man Utd offer amid new takeover strategy
EXCLUSIVE: A Qatari delegation, representing Sheikh Jassim, and Ineos have visited Old Trafford with a view to succeeding the Glazer family
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