In the wake of last week’s deadline for preliminary investment bids, Manchester United is drawing significant interest.
In addition to two public bids from Sheikh Jassim bin Hamad Al Thani, the chairman of the Qatar Islamic Bank, and British billionaire Jim Ratcliffe’s company INEOS, several other groups made private proposals, according to The Wall Street Journal.
Sheikh Jassim’s reported $6 billion bid is for 100% of the club without debt, while Ratcliffe’s bid is reportedly for 69% of the club.
Elliott Management, which sold AC Milan in 2022, has no plans to make its own takeover offer but has reportedly indicated it would consider financing a bid. It isn’t currently aligned with any investor.
It was reported on Friday that Saudi Arabia had also submitted a bid.
The Glazers, who purchased the team for roughly $942 million in 2005, hired the Raine Group in November to help facilitate the sale and is expected to go through the proposals over the next week to eliminate the weaker bids.
Manchester United was put up for sale following criticism from fans over the Glazers’ lack of investment in the club.
The team was last valued by Forbes at $4.6 billion. The current record for a team sale is Chelsea’s $5.3 billion takeover by a group led by U.S. investor Todd Boehly.