Man Utd takeover: Multiple bids expected ahead of first sale deadline
Manchester United are expecting multiple bids to be made when the opening deadline to sell the club expires on Friday, sources have told 90min.
United’s owners, the Glazer family, confirmed in November 2022 that they would be considering a sale of the club.
Soon after that announcement, Raine Group - the US bank who handled the sale of Chelsea - were appointed to oversee the sale and they set what is described as a 'soft deadline' for opening bids. At that point, interested parties are asked to submit their opening bid accompanied by proof of funds.
A price has not been placed on the club, but sources have confirmed that the Glazers are expecting to fetch around $6bn, although some believe it could fetch up to €10bn depending on how many bidders come in.
As it stands there are only a few known bidders set to lodge offers, including British billionaire Sir Jim Ratcliffe and at least one Qatari-based group. But sources have told 90min that United believe 'multiple bids' will be made for the club, who many consider to be the biggest footballing brand in the world.
90min confirmed last week that a bid from Qatar was due with the country’s Emir, Sheikh Tamim bin Hamad Al Thani, a known United fan. The chance to buy the club is something he is very much believed to approve of.
A bid from Qatar may not be the only one coming out of Asia, with parties from the United Arab Emirates and India also known to have investigated possible bids.
On this edition of The Promised Land, part of the 90min podcast network, Scott Saunders & Rob Blanchette look ahead to Barcelona vs Man Utd in the Europa League, Casemiro's return, the race to buy the club & more. If you can't see this embed, click here to listen to the podcast!
Sources in the US have told 90min that although not public, there are numerous interested parties and a few of those are expected to register bids on Friday. Famous billionaires Elon Musk and Jeff Bezos have been linked with United.
90min also revealed last year that some interested parties have also been making plans to try and bolster their possible bids by bringing in people with links to United such as David Beckham. However, he has not confirmed his backing for any group to this point.
Many of the interested parties are aware that engagement is key, and that is set to accelerate following Friday's deadline.
After the February 17 deadline, Raine Group will assess the bids and engage in talks with the relative parties before putting forward their recommendations to the Glazers, who will have the final decision on which offer they want to accept and may not necessarily go with the most lucrative offer.
The expectation is that the sale will be finalised before the end of the current Premier League season in May.