Man Utd takeover threatened with collapse

Ronan Murphy

• Updated: 23 Mar 2023 10:02 GMT
• 3 min read

Manchester United insiders have been rattled after bidders for the club asked for an extension.

The Telegaph report that the request ‘has not gone down well’ and that there is conflicting information over who precisely asked for more time first.

Tom Morgan tweeted last night: “Very odd night. There is a difference of opinion between various sources close to the deal on who exactly first asked for an extension. 'This has not gone down well,' says one United insider.”

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It comes after Qatari banker Sheikh ­Jassim bin Hamad Al Thani and Sir Jim Ratcliffe were granted more time to finalise their new offers after their initial ones were considered too low.

A delay in the process

The bidders were on a deadline of 9pm on Wednesday but that came and went before news emerged that they would be granted further time to hand in their revised offers.

Reports suggest that the last-minute chaos has caused friction between the interested parties and the Glazers, the controversial owners looking to sell the club.

The two main groups - Ineos and the Qataris - have claimed they are looking to table their offers potentially as soon as Thursday - while the idea that the extension was pushed back to sound out more offers was vehemently denied.

It had been thought that Ratcliffe and Sheikh Jassim both appeared set to submit their improved offers on Wednesday night, both putting forward more than £5 billion.

But then it was pushed back still further. Now there will be revised offers made.

There are minority bidders but Ratcliffe’s Ineos Group and Sheikh Jassim believe they are the only serious contenders for an outright purchase. There are thought to be up to eight groups in total. The Glazers have been looking for as much as £6b to sell the club they have presided over for 18 years.