Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe will each present improved bids in the second round of bids for Manchester United as they continue to fight to complete the takeover of the Premier League club.
Only the two bidders who have expressed interest in United are required to submit their second round bids before the Wednesday deadline of 9pm UK (5pm ET).
Initial bids for both parties are not believed to have exceeded £5 billion ($6.14 billion) for United by the February 17 Round One deadline.
A delegation representing Sheikh Jassim visited Old Trafford last Thursday as United opened their doors to potential buyers to investigate senior officials from the club’s hierarchy.
The Qatari emir, who is the son of the former prime minister and chairman of Qatari bank QIB, is said to be a lifelong Manchester United fan. He was not present at the talks, but the party included Shehzad Shahbaz, head of the Sheikh Jassim Nine Foundation, and Fadi Bakhos, his senior personal advisor.
Ratcliffe Owner and founder of the petrochemical giant INEOSwho attended in person on Friday and was joined by his most trusted Manchester assistants as they were glimpsed within the club’s walls.
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Sir David Brailsford, a former British cycling executive who is now Director of Sport at INEOS, was among those to join Ratcliffe at Old Trafford and then the club’s Carrington training base.
Eric ten Hag, United’s first team manager, You happen to be in the building when Ratcliffe was there.
“I just met them, we shook hands but I’m focused on the match,” said Ten Hag. “Others in the club are dealing with potential investors.”
Both sides have been encouraged to make second bids for the club as they look to take over from the Glazers, who have confirmed they are open to selling United in November.
Sheikh Jassim wants to complete a full takeover of United, which means he will buy the Glazer family with 69 percent and the remaining 31 percent, which is made up of smaller investors.
Only Ratcliffe is bidding for 69 percent of Glazer at this point.
When the Glazers put the club on the market in November, it was widely reported that they valued United at more than £6 billion. Some have suggested they believe the club is worth more than £8 billion.
Elliott Investment Management, the US hedge fund, offered to help finance any takeover of the club, while investment group Ares Management also offered capital to potential bidders.
However, Ratcliffe and Sheikh Jassim were at the top of the bidding process, with the latter said to be the winner of the race.
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(Photo: Getty Images)
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