Manchester United Takeover: The soft deadline day for Manchester United Takeover is getting closer. The Glazer family have asked the potential bidders to speed up the process of submitting their bidding process. According to the latest reports the Potential Bidders have been asked to write ‘One paragraph’ summarising their bids ahead of the Man United SALE. The soft deadline to Submit the bids is 17th February. Follow Premier League LIVE Updates on InsideSport.IN
Manchester United Takeover: Potential Bidders to write ‘One paragraph’ ahead of Man United SALE, Soft DEADLINE Day on 17th February – Check Out
The Glazers have put the Old Trafford club for sale after nearly 18 years of owning it. As per the report citing The Daily Mail, the Glazers have set a soft deadline to speed things up in terms of the sale of the club. The current owners want prospective buyers to summarise their bid and the percentage of the club they wish to buy in a one-paragraph offer.
The report has stated that there are five “serious” bidders interested to buy the Premier League giants. The suitors have been told to submit a brief offer before Friday. The bidders will also require proof of funds to be attached to show they mean business.
The Old Trafford outfit is expecting to receive multiple investment offers in addition to full takeover bids. The Manchester United Takeover process will be overseen by American merchant bank Raine. After receiving the offers, the bank will narrow down to ” two or three serious contenders.”
Manchester United Sale: The Glazers are divided over the club’s valuation according to sources close to the sales process. pic.twitter.com/72ay5qcoRO
— Futball News (@FutballNews_) February 12, 2023
Manchester United Takeover: Potential Bidders to write ‘One paragraph’ ahead of Man United SALE, Soft DEADLINE Day on 17th February – Check Out
Manchester United Takeover: Potential Bidders to write ‘One paragraph’ ahead of Man United SALE, Soft DEADLINE Day on 17th February – Check Out
Manchester United Takeover: Glazers to reduce asking price
The bidding amount for the Manchester United purchase is yet to be decided by bidders. However, reports state that Glazers are ready to settle for a lesser price. As per the report Glazer family has tasked their financial advisors to find someone who would purchase the club for a sum in the region of £ 6-7 billion. The latest buyer will need £2 billion to renovate Old Trafford and Carrington.
The Mail has reported that one of the brothers is privately insisting offers could be much lower. However, some members of the family are said to be willing to accept a £5bn bid. Currently, Jim Ratcliff and Qatari owners are reportedly favorites in the race to buy the club.
Manchester United Takeover: Potential Bidders to write ‘One paragraph’ ahead of Man United SALE, Soft DEADLINE Day on 17th February – Check Out
For the Qatari bidders, the money for the United bid reportedly comes from an individual fund. UEFA are not expected to stand in the way of any Qatari bid as long as they are satisfied that United and PSG will have separate management and distinct corporate structures
Jim Ratcliffe meanwhile has hired Goldman Sachs and JPMorgan to advise him during the takeover process. Goldman Sachs and JPMorgan would be willing to back a takeover bid with bonds and loans. The two banks will cover the value of United’s existing debt. Supporters will be hoping that new owners can come in and invest in the team, the stadium, and the facilities.
