Any potential buyers for Manchester United need to have their bids in within the next 10 days, according to reports this afternoon.
Manchester United were officially put up for sale back in November when their hugely unpopular owners, the Glazer family, announced their intention to seek additional investment in the club.
The Glazers appointed The Raine Group – the investment banking company that oversaw the sale of Chelsea last year – to oversee the sale process, with a whole host of potential buyers having been linked in the past months.
So far, Petrochemicals company, Ineos – fronted by Sir Jim Ratcliffe – is the only company to have gone on record to announce their interest, though reports in the Mail overnight said that there was significant interest from The Emir of Qatar, Tamim bin Hamad Al Thani.
According to a report in the Telegraph, a number of parties have signed non-disclosure agreements while they do due diligence, but now have just 10 days to table their takeover bids, with the Glazers ‘still open to a potential deal that could be completed by April’.
Despite Ineos being the only side to publically declare their interest, the Telegraph say that bidders from the USA – including some of those who inquired about Chelsea – and a “mystery Arabic investment group” are seen as “leading the running.”
The report does however dismiss reported interest from Dubai, with United’s neighbours Manchester City currently “propped up by funds from Abu Dhabi.”
Qatar Sports Investment’s ownership of PSG complicates matters, with UEFA rules preventing two sides owned by the same company from playing each other in European competition.
QSI’s Nasser Al-Khelaifi was previously spotted speaking to Daniel Levy regarding a potential minority investment in Tottenham, while United’s sale also comes at a time while rivals Liverpool are also up for sale.
The Glazers have reportedly set an asking price in excess of £5bn, though up to £2bn in additional funds are thought to be required to redevelop, or even rebuild, the club’s iconic Old Trafford stadium.
