Could Promotion-Relegation work in College Football?
The new bids to buy Manchester United are in — and they’re reportedly lower than the Glazer family’s asking price.
Although Man United’s current owners want approximately $7.4 billion, it doesn’t preclude an eventual sale.
Both Qatar’s Sheikh Jassim bin Hamad Al Thani and British billionaire Jim Ratcliffe — the initial two public finalists to buy the storied club — increased their offerings from around $5.6 billion, but remained below the $7.4 billion threshold, according to ESPN .
Finnish entrepreneur Thomas Zilliacus, who entered the fray after the bid deadline was extended last week, also reportedly lodged a bid whose value is unknown.
Before the deadline extension, Sheikh Jassim and Ratcliffe both submitted bids exceeding $6.2 billion — which alone would make the sale the most expensive ever for a sports team.
While that could be seen as a disappointment to the Glazers, one of the bidders is possibly closer than previously thought. According to Sportico, Sheikh Jassim’s bid is “in the ballpark” of the Glazers’ asking price — and Ratcliffe couldn’t match it.
It now falls to U.S. bank the Raine Group — which is facilitating the sale — to either request another round of bidding or name a preferred bidder.
Man United expects to have “clarity” on the ownership situation by season’s end in late May.
