Manchester United to Accept Third Round of Bids
Manchester United will accept a third round of bids from prospective buyers, due at the end of the month, said a person familiar with the matter.
Seven prospective ownership groups have each received feedback from Raine Group, the New York-based investment bank hired by the Glazer family, the Americans who own the club, to oversee the sale. The team is expected to fetch more than $6 billion. Raine Group declined to comment.
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INEOS owner Jim Ratcliffe and Qatari Sheikh Jassim bin Hamad Al Thani are the only bidders who have publicly declared their intent to buy Man United (NYSE: MANU); the other five bids are private.
The 70-year-old Ratcliffe, a lifelong Manchester United fan, is the richest person in the U.K., worth $15.3 billion, per Forbes. Al Thani, who is said to be a fan of the 145-year-old club, is the chairman of Qatar Islamic Bank (QIB) and the son of the former prime minister of Qatar.
The Glazers, who also own the NFL’s Tampa Bay Buccaneers, announced they were considering selling the team last November. The late Malcolm Glazer bought the team 17 years ago for $1.5 billion (£790 million).
Sportico values Manchester United at $5.95 billion.
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