Bidders for Manchester United are expected to hold first meetings with the team in the next couple weeks to discuss the sale of the Premier League club.
Qatari Sheikh Jassim bin Hamad Al Thani and British billionaire Jim Ratcliffe’s INEOS have the only two public bids, with the former interested in a full takeover and the latter reportedly interested in a 69% stake.
The initial bid proposals, which had a soft deadline of Feb. 17, reportedly only required the amount of their bid and proof of funds.
If no deal is reached by the season’s end, any potential sale may be in jeopardy, according to The Guardian.
It’s been reported that the Glazers — who purchased the team for $942 million in 2005 and have been heavily criticized for their ownership — are holding out for a price of around $7.2 billion, but the two bids reportedly aren’t more than roughly $5.4 billion.
Forbes last valued the club at $4.6 billion.
Elliott Management, Ares Management, and Oaktree Capital have all reportedly offered funding to bidders.
Joel and Avram Glazer are thought to be reluctant to sell, according to The Athletic, but are unable to buy out the other four family members who do not want to sell.
