Manchester United have still NOT received a Qatari bid to rival Sir Jim Ratcliffe in another twist in the £6bn battle for Old Trafford… but an offer is coming as Sheikh Jassim bin Hamad al-Thani’s team iron out the final details
- Sir Jim Ratcliffe has submitted his bid for the club but they wait for Qatari offer
- Sheikh Jassim bin Hamad al-Thani’s insist that their revised offer is forthcoming
- Fears heightened that the Glazers will hold onto the club amid lofty asking price
The Qatari bid for Manchester United remained outstanding on Friday night, but sources close to the group were adamant that it would be forthcoming.
It had been thought that the team working on an offer from Sheikh Jassim bin Hamad al-Thani would submit their bid before close of business on Friday.
However, late on Friday night it had failed to land in the US.
Sportsmail understands that the offer will be forthcoming and that the finer details were being ironed out. The US merchant bank Raine, which is running the process, had granted further time following Wednesday night’s initial ‘soft’ deadline, and will wait on the bid’s arrival.
But the delay has done little to boost the chances of the Qatar group. The opposing offer from Ineos supremo Sir Jim Ratcliffe was submitted on Thursday, after they were also given an extension.
Sheikh Jassim bin Hamad al-Thani’s second bid for the club was expected to land on Friday
INEOS CEO Sir Jim Ratcliffe submitted his revised bid for the club on Thursday after requesting an extension to Wednesday’s deadline
Both groups believe they are the only two keen on fully buying the club, which will do little to drive up the price to a level at which the current owners, the Glazers, would be happy to sell
Those close to the process insist that the Glazer family, who own United, have set a price for the club. However, there remains concern that they will seek an unrealistic sum north of £6bn.
The Ratcliffe offer was thought to be around £5bn and the Qatar offer, when it finally drops, is expected to be similar.
Raine Group have received a number of offers for a minority stake in the club, which would allow the Glazers to redevelop or rebuild Old Trafford and the club’s training ground while retaining overall control.
One of those offers has come from former AC Milan owners Elliott Investment Management, who had previously offered funding to those seeking to buy the club.
Those who have submitted bids are expected to hear back in around seven days.