Man Utd buyers to find out takeover fate

Karan Tejwani

• Updated: 23 May 2023 09:09 CDT
• 3 min read

Manchester United bidders could hear back from Raine Group this week as talks about a takeover could accelerate.

The US merchant bankers, Raine Group, are in charge of overseeing the sale of the club having been appointed by the Glazer family to help with the process.

Last November, the family announced their intention to either sell the club as a whole or attract majority investment and the process has progressed in recent weeks.

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Two weeks ago, there was confirmation of a bid from Qatar’s Sheikh Jassim bin Hamad al Thani for a full purchase of the club and INEOS’ Jim Radcliffe for a majority stake.

Man Utd bids to be assessed

Over the course of this week, Raine Group are set to reach out to both bidders and other potential interested parties after the club’s share price dropped over the last few days.

The figure rose after Qatar’s intention was made clear but recent days have seen a drop after uncertainty over the Glazers’ willingness to sell the club as a whole.

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There was a drop of around 13 percent - a significant sum - and that has prompted Raine Group and the Glazer family to take a look into the situation.

Both bidders submitted their interest on 17 February, which served as the soft deadline for interested parties and Raine Group have been going through the prospects since.

Both bidders will also be given full access to the club’s financials and other related details as they look to further understand their business aspects.

It’s believed the Glazer family are looking to hold out for fee of around £6 billion to consider a sale - a sum many consider to be unrealistic.

The Qatari bid was for around £5 billion, so negotiations will have to accelerate if they do wish to complete a takeover of the club in the near future.