Man Utd edge closer to world-record sale

Robin Bairner

• 4 Mar 2023 15:15 CST
• 3 min read

Manchester United have edged closer to being sold with the news that at least two of the bidding parties have passed the first hurdle of the process.

The Glazers announced in November that they intend to sell the Old Trafford side, though there remain doubts as to whether they really will allow a deal to proceed.

The American owners are said to want around £6 billion for Man Utd, though it is unlikely that they will receive so much. Indeed, this would be a world record fee for any professional sports team and around twice what Chelsea were sold for a year ago.

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Only two of the bidders have gone public with their intention to buy the club, with Sir Jim Ratcliffe and Qatari Sheikh Jassim bin Hamad Al Thani having both passed the first stage of the process to allow them to take over at Old Trafford according to The Telegraph.

The report also states that more than two weeks after bids were formally lodged, those interested parties have not yet received detailed financial information from the club.

It is believed that both Ratcliffe’s Ineos group and the Sheikh have failed to reach the Glazers’ asking price for the club, though neither party has indicated how much they have offered and talks are set to be secretive, with a non-disclosure agreement have been signed by the bidders.

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What Man Utd bidders will offer

The two bidders are offering different approaches to buying the club.

Sheikh Jassim is proposing a full takeover. Not only would he purchase the shares of the Glazers, he would also take those of any minority shareholders. He would also take on the club’s debt and invest in the long-term infrastructure of the club, from the training ground to Old Trafford itself. Of course, there would also be money for strengthening the playing squad.

Ratcliffe, meanwhile, “does not plan to load any fresh debt on to the club and hopes his local ties could prove significant”, according to the Telegraph.

The Glazers, meanwhile, want any deal completed by the end of April.