An unidentified third bidder from the United States has reportedly joined the race to take over Manchester United.
The Glazers announced the decision to sell Manchester United in November last year following incessant protests and calls for them to leave the club by the fans.
The takeover process was originally planned to be concluded on March ending but as things stand, it appears the March ending deadline looks more unlikely than possible.
The Glazers deputized the takeover responsibility to an American Merchant Group, Raine Group, asking the firm to oversee the sale process from mobbing up offers to the final takeover.
February 17 “soft deadline’ was fixed for all interested parties and potential bidders to submit their takeover offers for the club as the Glazers hoped to expedite the process before the end of the season.
Raine Group also made calls for Investment offers, including full takeover bids from interested parties.
Two prominent offers were recorded after the ‘soft deadline’ rush. UK billionaire investor Jim Ratcliffe and Qatari billionaire Sheikh Al Thani were leading the race to buy the club.
However, there were reports of delays in the takeover process.
Jim Ratcliffe and Sheikh Al-Thani confirmed Raine Group were yet to send feedback on their takeover offers and were not inviting them for talks. Hence, the planned conclusion of the takeover process in March ending was definitely an impossibility.
We had earlier reported Manchester United’s takeover may be delayed till the end of the Premier League season. There are new projections the takeover may likely take as far as ending of May before conclusion.
The expected delay has been linked to a split in the Glazers family who are yet to agree on a post-sale plan.
All members of the Glazers family have agreed to sell Manchester United, but they are yet to reach common ground on a post-sale decision.
Amid the uncertainties and lingering hurdles, the Sun reports a new mystery bid for Manchester United has been tabled. Although full details of the offer are yet to be unveiled to the media as of the time of filing this report, the report reveals the bid is coming from the United States.
According to the Sun, Raine Group has now called Jim Ratcliffe and Shiekh Al-Thani for takeover talks weeks after they have submitted their bids.
The new mystery bid from the US is also reportedly on the guest list of Raine Group as they set to resume talks on the takeover.
Despite the seeming progress in the takeover process after Raine Group summoned the bidders for talks, there are still lingering concerns over the feasibility of the May deadline due to a break in the ranks of the Glazers family.
Specifically, Joel Glazer and Avram Glazer are reportedly choking up the takeover process with their indecision on whether to prioritize investment offers or total takeover bids after no bidder seems to meet their £6bn valuation of the club.
Jim Ratcliffe and Sheikh Al-Thani’s bid have fallen short of the Glazers’ 6bn valuation of Manchester United. Presumably, the third unidentified offer is equally below the pecking.
As things stand, nothing can be guaranteed in the takeover process. Successful bidders would definitely want assurances before the May deadline to be able to map out a transfer policy since the summer transfer window will open immediately after the deadline.
