Sir Jim Ratcliffe and Sheikh Jassim will both submit second improved bids for Manchester United before an extended deadline, the PA news agency understands. A cut-off of 9pm last night (Wednesday March 23) had initially been set for parties to submit revised offers and, after this was extended, both Ratcliffe and Sheikh Jassim both intend to meet the new deadline.
Ineos founder Ratcliffe and Sheikh Jassim bin Hamad Al Thani, the chairman of Qatar Islamic Bank and the son of a former Qatari prime minister, are the only bidders who have gone public with their intentions to complete a full takeover. A first round of bidding took place last month and it has been reported there are as many as eight separate potential investors.
No figures have been revealed but one or more of the initial bids were reportedly in the region of £4.5bn. That would make them world record offers for a sports club, but still some way short of the £6bn valuation reportedly placed on the club by current owners the Glazer family.
