Mike Keegan shares when preferred bidder for Man Utd could now be named
Manchester United owners are expected to name their preferred bidder this week, reports the Daily Mail journalist Mike Keegan.
The legal teams of Sheikh Jassim bin Hamad al-Thani and Sir Jim Ratcliffe are finalising deal details with the Raine Group.
The US merchant bank is managing the process of selling Man United, and both bidders expect a final decision this week.
Sheikh Jassim’s team thought they had lost to the British billionaire after his bid appeared to have edged ahead in the race.
However, they now believe they are in the game following perceived breakthrough late last week.
The Qatar Islamic Bank chairman tabled a fifth bid for 100% of the Red Devils to the Glazers earlier this week.
He still wants total control of Man United and he included a significant further sum for investment on infrastructure and recruitment in his latest bid.
Sheikh Jassim set a Friday deadline for a withdrawal of engagement in the process if a response was not given.
While the deadline passed without any update from the sellers, his bid remains on the table, and a decision is on the cards.
Once named, the preferred bidder will enter into an exclusivity period with Man United and then undergo the Directors and Owners Test.
Sheikh Jassim has tabled around £5 billion for plus the club, with the promise of investment worth £1bn.
However, whether the Glazers will be convinced remains to be seen, and fans will be eager to know what their decision is.
They have already contacted Paris Saint-Germain president Nasser Al-Khelaifi to help them persuade Sheikh Jassim to increase his bid
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