The race to buy Manchester United has entered a crucial stage, with bidders facing a Wednesday deadline to submit improved offers for the Premier League giants. Qatari banker Sheikh Jassim Bin Hamad Al Thani and British billionaire Jim Ratcliffe have rival bids on the table, while several other interested groups have remained private throughout a bidding war that has intensified this week. Elliott Investment Management reportedly advanced to the second stage of the process, although the firm is believed to be offering financing to United’s owners, the Glazer family, rather than seeking a takeover.
Potential buyers must declare their offers to Raine, the merchant bank assisting the club, by 21:00 GMT on Wednesday. At least six bids—possibly up to eight—are expected, comprising proposals for full control as well as smaller stakes in United. The Glazers have reportedly set a £6 billion ($7.3 billion) valuation for the club, which they bought for £750 million in a highly leveraged deal in 2005. Initial offers last month were thought to be around £4.5 billion, which would surpass the Premier League record £4.25 billion paid for Chelsea by a consortium led by Todd Boehly last year.
Sheikh Jassim is reported to be ready to submit a second indicative bid before the cut‑off. INEOS founder Jim Ratcliffe, a boyhood United fan, has been more circumspect, insisting he will not pay a “stupid” price. “How do you decide the price of a painting? How do you decide the price of a house? It’s not related to how much it cost to build or how much it cost to paint,” Ratcliffe told the Wall Street Journal. “What you don’t want to do is pay stupid prices for things because then you regret it subsequently.” Ratcliffe, who already owns French club Nice and Swiss side Lausanne‑Sport, said his interest in United would be “purely in winning things,” describing the club as a “community asset.”
Both consortia have been conducting due‑diligence visits. Ratcliffe and INEOS representatives toured Old Trafford and the Carrington training ground last Friday, while Sheikh Jassim’s group also held talks at the facilities. Sheikh Jassim has pledged to clear the club’s debt, whereas Ratcliffe is targeting the 69 percent stake owned by the Glazers, though he could join forces with another bidder to take outright control of the 20‑time English champions.
It remains possible that the Glazers could decide not to sell if they do not receive their asking price, a move that would anger large sections of United’s fanbase, who have long protested against the unpopular American owners. The consortiums that make improved offers are expected to hear from United next week, with another round of bidding still possible. If one bid stands out significantly, that bidder could be granted a period of exclusivity, leading to further negotiations before a final sale.
The Glazers reportedly want any potential sale concluded before the summer, giving new owners time to settle in before the crucial close‑season transfer window. United, three‑time European champions, have not won the Premier League since legendary manager Alex Ferguson’s final title in 2013. Under Erik ten Hag, the club is enjoying a renaissance, having won the League Cup in February—their first major trophy in six years—while sitting third in the Premier League and preparing to face Brighton in the FA Cup semi‑finals.
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