Man Utd takeover LIVE: World record bid submitted before deadline – latest updates

Bids will be handled by the Raine group, but the Glazer family is understood to be divided on whether they want to sell the club or retain minority ownership.

While offers from Qatar and INEOS are on the table, a third option would be to raise funds through minority investors to renew investment in the club.

The Glazers would want a record £6bn for the club if they decide to sell: a fee the independent understands that the Qatari group is ready for the match.

INEOS has the funds to compete with the Qatari offer, but Ratcliffe has been reported to be concerned about the excessive price increase.

As reported by the independent this week Qatar has increased its offer for Manchester United

One consideration weighing heavily on the entire process is whether the Gulf state would ultimately come up with an offer that would “blow everyone away.”

There was some surprise that it hasn’t been the strategy from the start, as it would have been very easy for Qatar to go to the Glazers and tell them that they would pay the necessary amount before everything went live. Some industry figures believe it’s because they didn’t play their hand so soon.

Others, somewhat related to that, believe that it is part of a new strategy by the state to illustrate that these are proper business investments.

“They will try to pay the correct price,” a source said, “but they insist they won’t overpay.”

Sheikh Jassim is understood to have submitted a world-record second bid to buy Manchester United, with the bid submitted before tonight’s 9pm deadline.

Sir Jim Ratcliffe’s offer is also included, as previously reported.

Little or nothing is known about other possible bidders, but US hedge fund Elliott Management has reportedly made a proposal that would involve offering financing to new bidders or to the Glazers.

Sheikh Jassim bin Hamad Al Thani, the son of a former Prime Minister of Qatar, is the Chairman of the Qatar Islamic Bank.

He has said that his interest is a private initiative through his Nine Two Foundation and is not connected to the state of Qatar.

Their representatives also visited Old Trafford last week for talks that were seen as positive and constructive.

Little or nothing is known about other possible bidders, but US hedge fund Elliott Management has reportedly made a proposal that would involve offering financing to new bidders or to the Glazers.

Sir Jim Ratcliffe, who made an unsuccessful bid of around £4.25bn to buy Chelsea in 2022, visited Old Trafford last week.

The 70-year-old businessman was born in the Manchester area and has been a United fan since childhood. He is one of the richest people in Britain with an estimated personal fortune of £6 billion.

Both parties, which are the only groups to publicly declare their interest, visited Manchester United to meet last week.

Bids will be handled by the Raine group, but the Glazer family is understood to be divided on whether they want to sell the club or retain minority ownership.

Although neither Sheikh Jassim nor Si Jim Ratcliffe are believed to have exceeded £5bn with their initial offers, both are expected to come close to the mark with the closing of the second round of offers at 9pm tonight.

However, the two offers were for different ownership stakes and brought different options for Manchester United as a football club.

Sheikh Jassim wants to complete a full takeover of United, meaning he would buy 69 percent of the Glazer family and then buy the remaining 31 percent, which is made up of smaller investors. This could take some time as he would have to contact and negotiate with each investor to buy his shares.

The Qatari banker has also made several promises to invest in specific areas of the club, such as the renovation of the stadium, leaving United in debt after the purchase of the house.

Ratcliffe’s offer is for just 69 percent of the Glazers and a majority shareholder stake. At this time, it is not offering to buy out the remaining shareholders.

He would have to borrow money to finance any acquisition and his company INEOS has not promised to pay the club’s £656m debt.

Those close to his offer say no new debt will be put on the club, but it remains to be seen whether Ratcliffe will pay off the debt over time.

The Glazer family is considering selling the Old Trafford giants after 18 years of controversial ownership.

The Americans have invited interested parties to submit plans to take the club forward, which could mean a full takeover or significant investment.

Two bidders, Ineos owner Sir Jim Ratcliffe and Qatari businessman Sheikh Jassim, have so far made public their plans to take full control of the club, but there could be other interests.

Former United midfielder Scholes has no preference on who might take over but is just hoping it happens for harmony’s sake.