Manchester United takeover deadline has been extended as the Glazers mob up final offers from bidders.
The Glazers may soon exit the reins as Manchester United takeover gathers momentum.
The expectations are high at Old Trafford amidst the twist, turns, and drawbacks since the Glazers announced their decision to explore alternative funding for the club in November last year.
We are set for interesting and dramatic episodes in the Manchester United takeover process as Sheikh Jassim Bin Hamad Al-Thani and Sir Jim Ratcliffe submit final new offers for the club.
Recall Manchester United called interested parties to presentations at Old Trafford to explore gray areas that have been untouched by the previous bids and also explore investment options and plans for the club.
Sheikh Jassim Bin Hamad Al-Thani attended the presentation on Thursday last week through a high-power delegation. They met with Manchester United executives and were shown around the iconic Theatre of Dreams after hours of takeover talks before leaving for Carrington for presentation.
After Sheikh Jassim Bin Hamad Al-Thani’s arrived at Old Trafford for the presentation, his rival, and UK richest man, Sir Jim Ratcliffe also attended the presentation with his team from INEOS.
Talks between the club executives and Jim Ratcliffe is said to have proceeded smoothly with reports emerging he is a top favorite to take over the club due to the structure of his Manchester United takeover offer.
After the presentations, Sheikh Jassim and Sir Jim Ratcliffe were given 10 days ultimatum to submit takeover offers for the club as their first offers fell below the £6bn valuation of the club by the Glazers.
Both Ratcliffe and Sheikh Jassim Bin submitted their first bids in the region of £4.5bn.
Jim Ratcliffe And Sheikh Al-Thani Final Manchester United takeover offers
After the presentation, The Sun reports Ratcliffe and Sheikh Al-Thani have both made undisclosed improved bids for Manchester United takeover ahead of the 9pm Wednesday deadline which expired on March 22.
While the exact value of the new bids is undisclosed, there are projections their new offers are within the region of £5 billion, a record offer for any sporting club.
Organizers of the takeover process are also extending the deadline for submission of new offers to the weekend to encourage more bidders for the club.
Meanwhile, Raine Group has also indicated about eight groups have joined the Ratcliffe and Sheikh Al-Thani in the race for the takeover.
When will Manchester United Takeover be completed?
The Glazers are currently undecided about whether to sell Manchester United or not since offers submitted for the club have not met their demand. The takeover process was set to be completed at the end of the season, but as things stand, nothing is certain.
Sheikh Jassim Bin Hamad Al-Thani and Sir Jim Ratcliffe missed deadline for submission of second bid
Reports reaching us from sources close to Old Trafford have confirmed both Sheikh Jassim and Sir Ratcliffe failed to submit their second takeover bids before the Wednesday 9pm deadline.
There are fears this may likely influenced the Glazers’ decision with their current indecision on the sale plan and below-value bids