Man Utd meet with applicants, expect improved offer
Manchester United are meeting with the two most prominent bidders, consortiums led by Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe, on Thursday and Friday before expected enhanced bids to control the club, sources told ESPN.
Sources said representatives of Qatari banker Sheikh Jassim are expected to make presentations at Old Trafford and Carrington on Thursday.
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Sheikh Jassim will not attend, but British billionaire Ratcliffe, chairman and CEO of chemicals company INEOS, could be in attendance for a similar presentation on Friday. Ratcliffe is set to take part in Thursday night’s Europa Conference League game between Nice and Sheriff Tiraspol.
The Glazer family, which announced plans to sell the club in November, and Raine Group, the merchant bank overseeing the process, expect improved offers once presentations to interested parties are complete.
Sources added that indicative offers, received ahead of Raine’s soft deadline, fell below the Glazer family’s valuation of around £6billion.
There have also been talks with other syndicates interested in a full takeover, and at least three US-based hedge funds, including Elliot Investment Management, who have indicated their willingness to take a minority stake.
Sources said the Glazers are keeping their options open for now.
Sheikh Jassim officials hope the presentations will give them a better understanding of the work needed to improve facilities at Old Trafford and Carrington. Plans to redevelop Old Trafford have been initiated by the Glazers but are on hold while ownership remains up in the air.
There are also preliminary plans to improve Carrington, including building dedicated facilities for the women’s team and installing cart tracks to allow easier access around the site.
Sources close to a number of interested parties have told ESPN that they do not believe the Glazers’ rating of the club accurately measures the amount of post-acquisition investment that would be required to make Old Trafford and Carrington among the best footballing properties in the world to make world .
https://www.espn.com/soccer/manchester-united-engman_utd/story/4901964/man-utd-to-meet-with-suitors-expect-improved-bid-sources Man Utd meet with applicants, expect improved offer