Manchester United have invited all Manchester United potential new owners to a presentation at Old Trafford as the Glazers prepare to relinquish ownership of the club.
The presentation which is set to take place over the next 14 days could be seen as a preparatory to the subsequent change of ownership at the club.
After a marathon of pressure from disgruntled Manchester United fan base protesting the unproductive and inept handling of Manchester United, the Glazers family finally gave in to the pressure announcing their decision to sell the club in November last year.
To expedite the takeover process, Raine Group, an American merchant Group was saddled with the responsibility to oversee the sale and takeover process.
So far, two prominent interests have submitted their bids for Manchester United. Sir Jim Ratcliffe, CEO of Ineos, and British billionaire investor and Qatari’s Sheikh Al-Thani are reportedly leading the race to take over the Old Trafford club.
While the Glazers also canvassed for bids seeking to invest in the club by holding shares, Ratcliffe and Sheikh Al-Thani are reportedly submitting takeover bids and are keenly interested in becoming the club’s new owners.
So far, some hitches have been rendezvoused in the takeover process which was originally set to be concluded in March ending.
The new date for the takeover to be completed was slated for May ending when the 2022/23 Premier League season will come to an end.
Some members of the Glazers family are reportedly opposed to a full sale of the club after offers made so far have not matched the family’s 6bn valuation of the club.
Also, they are yet to reach an agreement on the post-sale plan and this has contributed immensely to the dragging sale and takeover process.
Ratcliffe and Sheikh Al-Thani confirmed Manchester United were yet to issue feedback on their offers weeks after submission was made.
However, according to the BBC, the club has now officially invited all bidders and potential new owners to a presentation at Old Trafford as part of the takeover process.
Those invited include Sir Jim Ratcliffe and Sheikh Al-Thani who are the frontrunners to take over the reins at Old Trafford.
The presentation is reportedly set to focus on how the club will generate more income to offset its mounting debts.
It will span 14 days with the different interests making their appearance on different days.
The representatives of Jim Ratcliffe will visit at the end of next week, but it is yet to be confirmed whether Ratcliffe will attend the presentation by himself.
Sheikh Al-Thani is also expected at the presentation next week.
After the presentation, there are projections Raine Group will ask for revised bids as part of the process to speed up the takeover process.
Raine Group fixed a soft deadline of February 17 but more bids and offers are still expected by the club.
However, potential new bidders are reportedly worried about the inconveniences of the May ending deadline for the full takeover to be completed. This is because it may likely be difficult to stitch up a good transfer policy with the urgency of the summer transfer window after the Premier League ends.
Meanwhile, uncertainties are still hovering over the sale process with the Glazers’ intentions still unclear since the offers submitted so far fall below their valuation of the club.
