Third-round bids for Manchester United are due Friday — and one bidder is confident this time will be the charm.
Sheikh Jassim bin Hamad Al-Thani was reportedly set to make a fresh bid for the storied franchise and remained confident he would be successful, despite another strong bid and reports that the Glazer family could opt to retain a majority stake.
The Raine Group is expected to declare a preferred bidder following this round, who would then enter final negotiations to secure the sale.
Sheikh Jassim’s bid will reportedly be significantly higher than his previous one, though it is still unclear if he will meet the Glazers’ asking price of $7.5 billion, per the Independent. He is bidding against the INEOS Group, led by British billionaire Jim Ratcliffe.
Investment firms Elliott Management, Ares Management Corporation, Sixth Street, and Carlyle are all expected to submit bids for a minority stake. Sheikh Jassim is interested in purchasing 100% of the club, while Ratcliffe is believed to be proposing buying a majority stake, which could allow Glazer family members to remain as minority owners.
The Raine Group asked for additional information from bidders for this round, including their sources of wealth and financing plans for the team. Those requests stirred hope that a sale could be completed quickly — and that new owners could be in place in time for the Premier League’s summer transfer window.