Manchester United takeover bids will need to be submitted before 10pm this evening with the Glazer family beginning the process of selling the club, and at least three supposed parties all look set to wrestle for control.
Life-long Manchester United fan Sir Jim Ratcliffe has already made his intention to bid public, with Britain’s richest man launching a takeover proposal alongside the INEOS Group. The feeling is United and the Premier League would prefer a bid closer to home, with two thirds of fans voting in a recent poll expressing their desire for Ratcliffe to be successful in his pursuit.
Elsewhere, it has been revealed that investors from Saudi Arabia and the United States are also expected to make an approach, and any deal involving the latter would add to the influx of American Premier League owners, with over half of the division owned or part-owned by investors from across the pond.
The most controversial party is a Qatari-led proposal, with the Gulf state eager to build on the success of last year’s World Cup and expand their sporting portfolio beyond PSG and Braga. Qatar Sports Investments (QSI), the vehicle with which the nation’s sovereign wealth fund invest in clubs around the world, may have difficulties if their potential bid is made official.
⏱️ Until 10pm to make bid!
% How much of the club they want to buy?
💰 Proof of funds?It's deadline day to submit an offer for Manchester United ⏳💷 pic.twitter.com/fMTUBm2uuS
— Football Daily (@footballdaily) February 17, 2023
According to UEFA regulations, only one team is allowed to enter the Champions League should the same controlling entity have two clubs in their portfolio. FairSquare, an advocacy and human rights group, has written to UEFA president Aleksander Ceferin urging the governing body to block any potential takeover by QSI while they are the controlling shareholders of PSG.
QSI remain adamant that they are a separate entity to the Emir of Qatar who holds all legislative and executive power, but FairSquare argue that both PSG and Manchester United would be controlled by the same network of governance, even if the consortium don’t share the same name.
The Glazer family want at least £5bn for United, and any bid will likely have to be excess of the figure. All parties are not expected to overpay in the initial round of bidding, with Qatar in particular remaining cautious.
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