Sir Jim Ratcliffe and Qatari Sheikh Jassim ‘to have Man Utd bids REJECTED as Glazers hold out for more money’
SIR JIM RATCLIFFE and Sheikh Jassim bin Hamad Al Thani are reportedly set to have their bids for Manchester United rejected.
That’s as the Glazers hold out for more money.
British billionaire Ratcliffe and Qatari Sheikh Jassim are the only interested parties to have gone public with their bids.
But the Telegraph claims neither man is set to have their initial offer accepted.
It’s reckoned the markets value United at £3.75billion.
And Ratcliffe and Sheikh Jassim are likely to have bid around that number after signing non-disclosure agreements.
However, the Glazers believe United should be sold for at least £5bn.
And neither offer is thought to have come close to that figure.
Ratcliffe and Sheikh Jassim are now waiting for a response from Raine Group, who are handling the takeover deal.
But it is likely they will have to lodge fresh offers near the £5bn mark to stand any chance of a complete takeover.
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The Glazers are believed to be willing to part ways entirely for the right price.
Yet they are also open to retaining control and could accept a minority investment.
Ratcliffe, who fronts Ineos Group, is liaising with JPMorgan and Goldman Sachs over his bid.
But Sheikh Jassim is understood to want a complete takeover.
The Qatari is ready to clear United’s debts, which stand at a whopping £680million.
And he also wants to invest in a new stadium and a new training ground.
That alone could cost up to £2bn.
And a hefty amount of cash would also be needed to fund new signings for Erik ten Hag.