Sheikh Jassim Bin Hamad Al Thani and Sir Jim Ratcliffe will both submit improved offers to buy Manchester United in the second round of bids as they continue to battle to complete a takeover of the Premier League club.
The only two bidders who have gone public with their interest in United must submit their second-round bids before Wednesday’s 9pm UK deadline (5pm ET).
Both parties’ initial bids are believed not to have exceeded £5bn ($6.14bn) for United during the first round’s ‘soft’ deadline on February 17.
At this stage, certain well-placed sources see the Qatari bid as the favorite for success should the Glazer family agree to an outright sale.
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.
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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.
United first-team manager Erik ten Hag happened to be in the building when Ratcliffe was there.
“I just met her, we shook hands, but I’m focused on the game,” Ten Hag said. “Others at the club have been looking at potential investors.”
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.
Sheik Jassim wants to take over United completely, i.e. buy 69 percent of the Glazer family and the remaining 31 percent, which are made up of smaller investors.
Ratcliffe is bidding exclusively for the 69 percent of the Glazers at this point.
When the Glazers launched the club in November, it was widely reported that they valued United at more than £6billion. Some have suggested they believe the club is worth more than £8billion.
Elliott Investment Management, the US hedge fund, offered to help fund an eventual takeover of the club, while investment group Ares Management also offered capital to potential bidders.
However, Ratcliffe and Sheikh Jassim have been at the heart of the bidding process, with the latter set to win the race.
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(Photo: Getty Images)