A second offer is expected to be submitted for Manchester United by Qatari investor Sheikh Jassim bin Hamad al-Thani.
Bankers The Raine Group will then assess offers on behalf of the Glazers, with Manchester United supporters keen for the process to accelerate to finally rid the club of the unwanted American owners.
Sheikh Jassim is believed to be the richest of the potential bidders and totally determined to win the race.
The Times reports: “The group know that if it is an issue of money then there is no way they should be beaten.”
‘Sheikh Jassim will do the opposite to the Glazers’
It is one task to acquire Manchester United. It is another entirely to run the club properly.
The Glazers just about managed to purchase a majority stake back in 2005 thanks to a debt-leveraged buyout.
This never should have been permitted, because the Glazers have lacked the capital to actually invest money themselves into the team or infrastructure.
Sheikh Jassim and his Nine Two Foundation have the funds to support investment into the stadium, training ground, men’s and women’s teams, The Telegraph report.
Ross Griffin, an assistant professor at Qatar University, has told Al Jazeera that the bidder has good intentions and will deliver financially.
He said: “It will use that money to create a positive rapport, something the Glazers have never done.
“Over the years, the Glazers have extracted money and taken it to the other side of the Atlantic, but Qatar is saying it will do the opposite by investing back in the community.”
The cost of buying Manchester United will exceed £5 billion. A further £2 billion could be required to clear the club debt and invest further.
The Times describe Sheikh Jassim’s finances as ‘limitless wealth’, which helps. And this combined with a determination to get the deal done, has seen him leap out ahead of Sir Jim Ratcliffe as favourite to win the race.
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