Manchester United

Preferred Manchester United bidder 'to be named next week'

By Matt Law, Football Editor | 11 June 2023

The preferred bidder for Manchester United will be named next week, with Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe the favourites to complete a takeover, according to a report.

The preferred bidder for Manchester United will reportedly be named next week, with Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe set to learn their fate.

The takeover process has been ongoing since last November, when the Glazers confirmed a willingness to sell the 20-time English champions.

Various reports have claimed that Ratcliffe has recently moved to the head of the queue in terms of a takeover, but Sheikh Jassim's latest offer, which arrived last week, has seemingly put the Qatari firmly back in the race.

There are huge differences when it comes to the bids, though, with Ratcliffe only looking for a controlling stake at this moment, with a full takeover potentially occurring after three years, when he would, in theory, purchase the remaining shared owned by the Glazers.

Sheikh Jassim, on the other hand, wants to complete a full takeover, while the banker has also allegedly made it clear that he will invest heavily in Old Trafford and the club's training ground.

Nice owner Jim Ratcliffe before the match on April 20, 2023 © Reuters

According to the Daily Mail, the long-awaited decision when it comes to the preferred bidder will be made towards the end of next week.

The report claims that representatives of Sheikh Jassim and Ratcliffe are currently in discussions with Raine Group, who are overseeing the sale process on behalf of the Glazers.

Sheikh Jassim's latest offer, which is thought to be around £5bn, is said to remain on the table despite suggestions that it would be withdrawn if he had not heard back by Friday.

Ratcliffe's bid is believed to value Man United higher than the one from Sheikh Jassim, while under the British billionaire's proposal, the Glazers would likely stay involved as minority shareholders.

Manchester United co-chairman Avram Glazer in the stands before the match on May 14, 2023 © Reuters

Towards the end of last week, it was claimed that Paris Saint-Germain president Nasser Al-Khelaifi was some way involved in Sheikh Jassim's bid to buy the Red Devils.

The Glazers are said to have been in touch with the PSG chief in an attempt to raise Sheikh Jassim's offer, but the 49-year-old has denied any involvement in the process.

The sale was initially expected to be concluded by the opening of the summer transfer window but that will now not be the case.

Finnish businessman Thomas Zilliacus had also allegedly been in the running, but he has officially withdrawn from the process.

Man United enjoyed a successful 2022-23 campaign, finishing third in the Premier League, in addition to winning the EFL Cup, while they made the quarter-finals of the Europa League and final of the FA Cup.