Manchester United news – latest: Qatari bid confirmed before deadline for offers

Having failed with a last-ditch £4.25billion bid for Chelsea last year, Ratcliffe – one of the UK’s richest men – is the only prospective buyer to make his interest public.

The 70-year-old, who was born in Failsworth and supported United growing up, founded Ineos, with a spokesman for the global chemical company confirming to PA on Tuesday they had “formally put ourselves into the process”.

Ineos already owns Ligue 1 club Nice and Swiss Super League team FC Lausanne-Sport, plus holds interests in sailing, cycling, rugby union and Formula One.

The Raine Group is looking to keep the process with United moving as quickly as possible, with the first quarter of the year recognised as a key time.

Prospective investors need to demonstrate seriousness in a swift process, leading to suggestions that Manchester United could even be under new ownership by the end of the 2022/23 season.

The Glazer family’s acquisition of Manchester United remains controversial to this day.

Their £790m takeover in the summer of 2005 came by way of a leveraged buyout: when a significant amount of borrowed money is used to fund the acquisition of a company, with the debt secured against that company itself.

In the case of this leveraged buyout, it was not just any company but one of the most famous and successful clubs in English and world football.

Over the years, that debt, the interest paid on it and the dividends handed out to shareholders along the way – the majority going to the Glazers themselves – have proved controversial.

The Raine Group is acting as United’s exclusive financial advisor and is in charge of the ongoing process.

The US-based investment banking firm has already overseen the sale of one Premier League club in the past year, having whittled down more than 250 expressions of interest in Chelsea to a handful of serious bids before Todd Boehly’s takeover.

That sale moved quickly due to the unique circumstances left by the sanctions placed on former owner Roman Abramovich.

The November statement followed Liverpool’s owners, the Fenway Sports Group, in making it known their club is for sale, meaning England’s two most successful teams on the pitch and most marketable assets off it are both on the market.

It comes at a time when the failure of both the European Super League and Project Big Picture thwarted attempts by the so-called big clubs to take greater control over football.

And with Newcastle forcing their way into the competition for the limited number of Champions League places after their Saudi-backed takeover, plus the price paid last year for Chelsea, both the Glazers and FSG appear to think now is the time to cash in.

At United there is an overdue need for investment in Old Trafford and the Carrington training complex on top of backing Erik ten Hag’s improving side.

There has been widespread anger, frustration and protests since the Glazers’ leveraged deal landed the club in debt in 2005, costing millions in interest payments and dividends at a time when success on the pitch has dried up.

However, a November 22nd statement brought fans hope of a fresh start as United confirmed the board “will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company”.

Executive co-chairmen Avram and Joel Glazer added that they were looking to “maximise the significant growth opportunities available to the club today and in the future”.

Uefa has been urged to prohibit Qatari state investors from any prospective takeover of Manchester United due to the conflict of interest arising from Qatar Sports Investment (QSI)’s ownership of Paris Saint-Germain.

Current owners the Glazer family are interested in selling Manchester United and although British billionaire Sir Jim Ratcliffe is so far the only party to have officially confirmed his interest, Qatar are being strongly linked with a bid for the club.

The Glazers have set an initial deadline of Friday for parties to declare their interest, although they may well extend that by two weeks to encourage more expressions of interest if they feel their £5bn valuation won’t be met.

It was around the turn of the year that the Raine Group, who are handling the sale of Manchester United, approached Qatari state investors over whether they would be interested in purchasing the club. Sources with knowledge of the discussions say the response was initially lukewarm, in part because they thought it was a “fishing expedition” and there was doubt about how much the Glazer family owners really want to sell. This is one of the questions that clouds this week, and could yet ensure that Friday isn’t as decisive a day in the history of England’s biggest club as has been built up.

It is at least bigger than Thursday’s match against Barcelona, which is saying something about why the situation is where it is. As historically resonant as this fixture at Camp Nou is, it’s also a Europa League tie that used to be a Champions League tie, which has played its part in making the Glazers wonder over whether now is the time to sell.

There are only a few things in this whole process that can be said with certainty right now. As first reported by The Independent as far back as August, the Glazers are interested in a sale but want £5bn for the club.

Qatari investors are planning to make a huge bid to buy Premier League club Manchester United, the Daily Mail newspaper reported, citing unnamed sources.

The report described the investors as “a group of private, high-wealth individuals” from Qatar, which hosted the 2022 World Cup.

United declined to comment when contacted by Reuters.

Jim Ratcliffe’s company INEOS formally entered the bidding process to buy United last month after the club’s US owners, the Glazer family, said in November they had begun looking at options including new investment or a potential sale.

There is a possibility that the Glazer family won’t relinquish full control of Manchester United and instead sell of most of their shares to remain as minority shareholders within the new regime.

The Athletic ran a poll of Manchester United fans and asked whether they would be okay with this outcome. 98% of the people who voted wanted the Glazers to sell the club in it’s entirety.

Sir Jim Ratcliffe, Oldham born and the only bidder to make his interest public, is a favourite among the fanbase with around 66% of United supporters backing his bid.