• About Us
  • AKIP
  • Live TV
  • Our Programs
  • Latest News
    • Church News
    • Politics
    • World News
    • Security
  • Airtime
  • From GM’s Desk
  • Church of Nigeria
  • Contact
Facebook Twitter Instagram
  • AKIP
  • From GM’s Desk
  • Live TV
Facebook Twitter Instagram
Advent Cable Network Nigeria Advent Cable Network Nigeria
  • Home
  • About Us
  • AKIP
  • Latest News
    • Church News
    • Politics
    • Security
    • World News
    • Sports
  • Live TV
  • Our Programs
  • Airtime
  • Church of Nigeria
  • Contact
Donate
Advent Cable Network Nigeria Advent Cable Network Nigeria
Home»Sports»Bidders Battle for Manchester United Ahead Deadline
Sports

Bidders Battle for Manchester United Ahead Deadline

ACNNTVBy ACNNTVMarch 22, 2023No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp
Share
Facebook Twitter LinkedIn Pinterest Email WhatsApp

The race to buy Manchester United enters a crucial stage on Wednesday as bidders face a deadline to submit improved offers for the Premier League giants.

Qatari banker Sheikh Jassim Bin Hamad Al Thani and British billionaire Jim Ratcliffe have rival bids on the table.

There are reported to be several other groups whose interest in United has remained private throughout a bidding war which has intensified this week.

Elliott Investment Management reportedly made it through to the second stage of the process, although the firm is believed to be offering funding to United owners, the Glazer family, rather than a takeover.

Those who want to buy United have to declare their offer to Raine, the merchant bank brought in to assist the club, by 2100 GMT on Wednesday.

At least six bids, possibly rising to eight, are expected to be submitted, with those comprised of offers for full control as well as smaller stakes in United.

The Glazers have reportedly set a £6 billion ($7.3 billion) figure for their valuation of a club they bought for £750 million in a highly-leveraged deal in 2005.

The initial offers for United last month were believed to have been worth around £4.5 billion.

That would surpass the Premier League record £4.25 billion paid for Chelsea by a consortium fronted by American Todd Boehly last year.

Sheikh Jassim is reported to be ready to submit a second indicative bid before the cut-off.

But INEOS chemical company founder Ratcliffe, a boyhood United fan, has been more circumspect in his assessment of the process, insisting he will not pay a “stupid” price as the bidding war for one of football’s most iconic clubs increases.

“How do you decide the price of a painting? How do you decide the price of a house? It’s not related to how much it cost to build or how much it cost to paint,” Ratcliffe told the Wall Street Journal this week.

“What you don’t want to do is pay stupid prices for things because then you regret it subsequently.”– ‘Community asset’ –

Ratcliffe, who already owns French club Nice and Swiss side Lausanne-Sport, said his interest in United would be “purely in winning things”, calling the club a “community asset”.

Ratcliffe and INEOS representatives visited United last Friday after a delegation from Sheikh Jassim’s group toured Old Trafford and the club’s Carrington training ground to hold more talks as part of their due diligence.

Sheikh Jassim has promised to clear the club’s debt.

Ratcliffe wants the 69 percent stake owned by the Glazer family, although he could join forces with another bidder to take outright control of the 20-time English champions.

It is still possible the Glazers could decide not to sell if they don’t receive their asking price, which would infuriate large sections of United’s fanbase, who have protested against the unpopular American owners for much of their reign.

The consortiums that make improved offers are expected to hear from United next week, with another round of bidding still in play.

If one group’s bid is vastly ahead of the others, they could be chosen to enter into a period of exclusivity, which would see further negotiation ahead of a final sale.

The Glazers reportedly want any potential sale to be concluded before the summer, giving new owners the chance to get settled in time for the vital close-season transfer window.

United, three-time European champions, haven’t won the Premier League since legendary boss Alex Ferguson led them to the title in his final season before retiring in 2013.

They are enjoying a renaissance under Erik ten Hag’s management this season, winning the League Cup final against Newcastle in February to clinch the club’s first major trophy for six years.

Ten Hag’s team also sit third in the Premier League and face Brighton in the FA Cup semi-finals.

AFP

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp

Related Posts

Haaland Set to Reign Over Europe as Man City Eye Historic Treble

June 8, 2023

United Boost as Osimhen Price Slashed To €120m

June 8, 2023

Messi Takes Decision On Future, to Join Bottom-Placed US Club

June 8, 2023
Add A Comment

Leave A Reply Cancel Reply

Recent Posts

FG Declares Monday June 12 Public Holiday

June 8, 2023

New Dean Emerges for CoN as Lagos Diocese, 3 Others Get New Bishops; Kaduna And Lagos Province, New Archbishops

June 7, 2023

Archbishop Enyindah Praises Wike, Tasks Fubara on God’s Direction for Good Governance [+Full Text of Sermon]

June 4, 2023

Tribunal Admits Exhibits From 6 More States Against Tinubu’s Election

June 2, 2023

President Tinubu Names Gbajabiamila Chief Of Staff, Akume SGF

June 2, 2023
Advent Cable Network Nigeria

ACNNTV is the Televangelism arm of the Church of Nigeria (Anglican Communion) with focus to keep the orthodox faith alive through development of inspiring and life changing broadcast products.

Facebook Twitter Instagram
Quick Links
  • About Us
  • AKIP
  • Board of Management
  • Contact
  • Privacy Policy
Quick Links
  • Our Programs
  • Program Rates
  • From GM’s Desk
  • Live TV

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

© 2023 Anglican Cable Network Nigeria,Abuja. Designed by Dominion Web.

Type above and press Enter to search. Press Esc to cancel.