Sheikh Jassim Bin Hamad Al Thani and Sir Jim Ratcliffe have more time to submit bids to buy Manchester United after the deadline was extended in the second round of bids for the club on Wednesday.
The only two bidders who had gone public with their interest in United had to submit their second-round bids before Wednesday’s 9pm UK deadline (5pm ET).
Several other investment proposals were submitted before the deadline.
US hedge fund Elliott Investment Management has publicly expressed interest in financing a takeover. They have made a proposal to the Glazer family for possible funding if they don’t sell the club.
Initial bids from Sheikh Jassim and Sir Jim Ratcliffe are believed not to have exceeded £5bn ($6.14bn) for United during the first round’s ‘soft’ deadline on February 17.
A delegation representing Sheikh Jassim visited Old Trafford last Thursday as United opened its doors to potential buyers to inspect senior officials from the club’s hierarchy.
The Qatari king, son of the former prime minister and chairman of Qatar bank QIB, is said to be a lifelong Manchester United fan. He was not present at the talks, but those in attendance included Shahzad Shahbaz, President of Sheikh Jassim’s Nine Two Foundation, and Fady Bakhos, his senior personal adviser.
Ratcliffe, owner and founder of petrochemicals giant INEOS, attended in person on Friday and was joined by his most trusted staff in Manchester, who also got a glimpse inside the club’s walls.
Sir David Brailsford, former British cycling manager and now sporting director of INEOS, was among those who joined Ratcliffe at Old Trafford and then the club’s Carrington training base.
Both parties have been encouraged to make second offers for the club as they seek to take the reins from the Glazer family, who confirmed they were open to selling United in November. There’s no guarantee the Glazers will sell.
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United takeover: Sheikh Jassim was at Red Knights talks over a decade ago
(Photo: Getty Images)