Manchester United Takeover has entered a new stage as the two frontline bidders go head-to-head in their bid to take over the club.
British richest man Sir Jim Ratcliffe and Qatari multi-billion dollar investor Sheikh Jassim Bin Hamad Al-Thani are the two frontline bidders pushing for Manchester United takeover.
Manchester United had organized a presentation for all interested parties in the takeover race and has issued a 10-day ultimatum for bidders to table their second offers.
Sheikh Jassim Al-Thani sent a high-power delegation to Old Trafford for negotiations and talks on the financial picture of the takeover process and also to explore gray areas that need investment at the club.
The delegation was led around the iconic Theatre of Dreams before hitting the club’s training base for the presentation.
The talks reportedly lasted for hours but Manchester United owners were reportedly absent. However, it was confirmed that negotiations were friendly and calm with both sides hopeful of brokering a better deal.
While Sheikh Jassim Al-Thani sent a delegation to Old Trafford for the presentation and dialogue, his rival, Sir Jim Ratcliffe has attended the presentation by himself and his team.
Ratcliffe led his team to the presentations on Friday and had reportedly met with Man United executives for talks on the takeover process.
The Chairman of Ineos and owner of French Ligue 1 side Nice was pictured at Old Trafford after he touched down in Manchester to hold talks on his interest and vision for the club.
Jim Ratcliffe was welcomed by Manchester United Chief Executive Richard Arnold and was beaming with smiles at Old Trafford after talks before he went for the presentation at Manchester United training ground at Carrington.
The Manchester United takeover race has narrowed to the two billionaires. The club executives are expected to take a decision on the best offers for the club by the two parties.
There were reports talks between the Man United hierarchy and the Sheikh Jassim Al-Thani delegation were positive and they have been invited to make a second bid for the club with a 10-day ultimatum.
Ratcliffe will also be given the same ultimatum after he visited the club for talks and is hoping to beat off the competition from Sheikh Al-Thani’s team to broker the deal.
He was joined at the talks by ex-Team Sky and British Cycling supremo Sir Dave Brailsford, and other ranking fellows from Ineos owners Andy Currie and John Reece.
Unlike the interest from Sheikh Jassim Al-Thani who is interested in a 100% Manchester United takeover, Sir Jim Ratcliffe wants to own the majority stake in Manchester United.
The 70-year-old was given the same treat and reception as the Qatari delegation and asked to table a second bid after the presentations.
Manchester United Takeover: Sir Jim Ratcliffe or Sheikh Jassim Al-Thani?
Who becomes the next owner of Manchester United between the two frontline contenders will be dependent on the interest of the Glazers.
The Glazers have delayed the Manchester United takeover process since offers tabled for the club have not met their £6bn valuation of the club.
There is also lingering indecision on whether to sanction a full takeover or prioritized investment offers seeking to hold shares at the club.
The decision of the Glazers on offers made for the club and their position on total handover or selling shares will determine whether Sheikh Al-Thani or Sir Jim Ratcliffe emerges as the new owner of the club.