Manchester United TAKEOVER: Manchester United SALE – Sheikh Jassim bin Hamad al-Thani from Qatar has hired the services of Bank of America, a US financial corporation, to assist him in determining the final value for his purchase of Manchester United. The competition to take over the Red Devils is progressing significantly, as the two primary contenders are expected to be present at Old Trafford this week. Follow Premier League LIVE Updates on InsideSport.IN
Manchester United TAKEOVER: Qatari Billionaire and Sir Jim Ratcliffe to visit Old Trafford this week as Man Utd TAKEOVER reaches next stage, Follow LIVE updates
Including representatives from Bank of America in his delegation for the meeting with the Raine Group, the Glazer family’s chosen selling agent, is a significant move by Qatari banker Sheikh Jassim. This meeting is expected to occur within the next 48 hours, before Ineos, led by Sir Jim Ratcliffe, sends its agents to Old Trafford for a thorough examination of the club’s financial records on Friday.
🚨💰| Takeover news:
The Qatari’s are the biggest bidders for Manchester United.
[@lauriewhitwell] #MUFC pic.twitter.com/9tl1yRv8at
— UtdActive (@UtdActive) March 8, 2023
These meetings were set up after Raine approved both bidders, who had passed the initial threshold, about ten days ago. It is believed that both Sheikh Jassim and Sir Jim, the wealthiest person in Britain, submitted initial bids of no more than £4.5 billion for the club.
Manchester United Takeover: What is the current situation?
The current bids fall significantly short of the Glazers’ £6 billion valuation, and it is still possible that they may choose not to sell at all.
Last week, Elliott Management, financiers who are willing to finance any bidder but may also provide funding directly to the Glazers, traveled to Manchester. Three other hedge funds, Ares Management, Oaktree (which assisted Chinese conglomerate Suning in acquiring Inter Milan), and MSD Partners, are also interested in participating in financing a deal.
According to SunSport’s report last week, one of the options being considered by the Glazers was to remove the club from the market and instead create a new company using external capital to establish a separate entity for the club’s merchandising and digital commercial operation.
Manchester United TAKEOVER: Qatari Billionaire and Sir Jim Ratcliffe to visit Old Trafford this week as Man Utd TAKEOVER reaches next stage, Follow LIVE updates
Manchester United Takeover Strategy
The proposed strategy would enable the Glazers to generate revenue from potential digital sales, video gaming, and merchandise licensing opportunities that are independent of on-pitch performance.
Sheikh Jassim, a member of the Qatari Royal family, aims to acquire complete ownership of the club. Conversely, Ineos intends to purchase only the Glazers’ controlling 69% stake.
Although it is unclear whether other potential buyers exist, the two public bidders (Sheikh Jassim and Ineos) are concerned about the increasingly tight deadline for finalizing any deal.
According to experts, the due diligence phase, which includes assessing the true value of Manchester United, the land surrounding Old Trafford (which could be used for a long-overdue replacement stadium), the club’s training ground, and the additional £500 million owed to the Glazers, could take up to two months.
Manchester United TAKEOVER: Qatari Billionaire and Sir Jim Ratcliffe to visit Old Trafford this week as Man Utd TAKEOVER reaches next stage, Follow LIVE updates
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