Manchester United Football Club, one of the most iconic sports teams in the world, has been put up for sale and is now entering its third round of bidding. With a host of interested parties vying for ownership, fans around the world are waiting eagerly to see who will emerge as the frontrunner. As the end of April approaches, potential buyers have been asked to submit their final offers, setting the stage for what could be a pivotal moment in the club’s history. Join us as we explore the latest developments in the Manchester United sale and what they mean for the team and its fans.
Manchester United’s sale process is entering a third round of bidding, with Raine Group handling the sale and rival bidders having been asked to submit their final offers by the end of April. Seven interested parties are believed to be in the running, with the majority vying for a minority stake in the club. The two leading bidders who want to buy out the Glazers – Sheikh Jassim and Sir Jim Ratcliffe – are both expected to put in final offers before the deadline. The Glazers want at least £6bn for the sale of Manchester United. Sheikh Jassim is believed to be “willing to overpay” for United with a figure closer to the Glazers’ valuation. The Qatari sheikh is the chairman of Qatar Islamic Bank, while Ratcliffe is one of the richest people in Britain with an estimated personal wealth of approximately £6bn.
Furthermore, US hedge fund Elliott Management has made an offer to buy a minority stake in the club and has also offered to finance other interested parties for investment in Manchester United. Elliott Management previously owned AC Milan but made a significant profit by selling the club to RedBird Capital for €1.2bn in August 2022. The hedge fund firm received a tour of Old Trafford and Carrington, leading to suggestions the Glazers are looking to stay at United potentially to redevelop the club’s stadium and facilities.
It is notable that Sheikh Jassim attended boarding school in the UK and went on to the Royal Military Academy at Sandhurst, where he apparently fell in love with Manchester United. Amid potential controversy about state ownership of clubs, Sheikh Jassim was clear when announcing his bid that his interest was a private initiative through his Nine Two Foundation, and he hopes to take 100 per cent control of the club. If he does so, Sheikh Jassim has promised to wipe all debts and invest considerably in the club and its infrastructure, as well as supporting local communities. Ratcliffe, a lifelong United fan, founded the chemicals firm INEOS in 1998 and oversaw its growth to become a company worth an estimated £50bn.
As the bidding for the sale of Manchester United enters its third round, it’s clear that the potential buyers are serious contenders. With final offers set to be submitted by the end of April, we await the outcome with eager anticipation. This is a significant moment in the history of one of the world’s most iconic football clubs, and the successful bidder will have a huge responsibility to uphold the club’s legacy and take it forward into a bold new era. One thing is certain: the future of Manchester United is looking brighter than ever before.
