Bidding process for Manchester United enters third stage

Manchester United’s bidding process has entered its third round as reports reveal that rival bidders have been invited to submit a third offer for the Premier League club by the end of April. The club’s current owners, the Glazers, are considering the option of selling the club as part of a strategic review that they announced in November 2022.

Among the potential buyers are Qatari banker Sheikh Jassim Bin Hamad Bin Jassim Bin Jaber Al Thani and British billionaire Jim Ratcliffe, both of whom submitted a second bid for the club last month. Although several offers have been received in recent weeks, Sheikh Jassim and Ratcliffe remain the front runners to buy Manchester United should the Glazers relinquish control of the club they bought in 2005 for £790 million ($980 million).

The Qatari group has reportedly made an offer of about £5 billion for 100 percent ownership of the club, while Ratcliffe, a lifelong United fan, wants to buy the combined Glazer shareholding of 69 percent. The Americans’ asking price is believed to be around $6 billion, which would make the 20-time English champions the most expensive sports club in history.

In addition to Sheikh Jassim and Ratcliffe, Finnish entrepreneur Thomas Zilliacus has entered the race, and US hedge fund Elliott Investment Management is understood to have made a bid for a minority stake.

The Glazers have been heavily criticized by many United supporters for saddling the club with huge debts over the past 18 years. Although they appeared ready to cash out at an enormous profit when they invited external investment in November, they could yet shun the option of selling a controlling stake.

The bidding process is being closely monitored by fans and analysts alike, with many speculating on the potential impact a change in ownership could have on the club’s future. Manchester United is one of the most valuable sports franchises in the world, and any change in ownership is sure to be closely scrutinized by stakeholders and supporters alike.