Manchester United is preparing to receive multiple bids to buy the football club by tonight’s 9pm deadline.
The American Glazer family, who purchased United in 2005 for £790mln, want around £6bln for the club, which would be a new record for a sports club after the Denver Broncos were sold for £3.75bln last summer.
Qatari banker Sheikh Jassim Bin Hamad Al Thani is expected to up his bid to as much as £5.5bln, following a 10-hour meeting held with the club last Thursday. He is reportedly “very confident” his debt-free bid can win over the Glazers.
British petrochemical billionaire Sir Jim Ratcliffe is also set to submit a revised offer after similar meetings held at Old Trafford and United’s Carrington training base but said he will not pay a “stupid price” for the club.
Parties interested in a minority investment rather than a full takeover, including US-based hedge fund Elliott Investment Manager, are expected to make offers. Ares, MSD Partners, and Oaktree Capital are also rumoured to be interested.
The club is expected to see at least five bids but as many as eight.
After the bidding deadline has passed, the US investment bank conducting the sale on behalf of the Glazers, Raine, will identify a preferred bidder.
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