Manchester United received takeover bids from Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani late on Friday evening as a potential takeover of the club reaches its next stage.
Current owners the Glazer family made public their intentions to 'explore strategic alternatives' at United in November. Rumours of interest in buying the club surfaced across the globe in the aftermath of the announcement, but the most consistent has been far closer to home in the form of boyhood fan Ratcliffe.
The Glazers hired investment banking firm the Raine Group to assist with the process of welcoming bids. A soft deadline of 10pm Friday, February 17 was set for any potential bidders to submit their bids.
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Qatari billionaire and Reds fan Sheikh Jassim bin Hamad Al Thani made his bid public late on Friday. A statement was released confirming the news.
"Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club.
"The bid plans to return the Club to its former glories both on and off the pitch, and — above all — will seek to place the fans at the heart of Manchester United Football Club once more.
"The bid will be completely debt free via Sheikh Jassim's Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the Club supports.
"The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world. More details of the bid will be released, when appropriate, if and when the bid process develops."
Shortly after confirmation of Al Thani's bid, reports surfaced of a second bid from INEOS owner and boyhood United fan Ratcliffe. The 70-year-old is one of Britain's richest men and has long been interested in a takeover of the club he has supported since he was a child.
The Telegraph reported that Ratcliffe told the Glazer family he wanted to 'put the Manchester back into Manchester United', with a source telling the paper: "His aim is to be a long-term custodian of Manchester United and set the standard for a progressive approach to club ownership. As locally born, he wants to put the Manchester back into Manchester United."
Meanwhile, reports have also emerged that US hedge fund Elliott Investment Management has also entered the bidding race by offering "to provide the financing for a bid".
And Manchester Evening News understands that current Manchester United co-chairmen Joel Glazer and Avram Glazer are exploring the possibility of buying out their four siblings on the club board.
MEN Sport understands that current bids are only indicative and once bidders reach the next stage of the process they will enter a 'data room' where potential purchasers will be able to see the relevant financial information. This is the point where everyone will have to submit their bids, once they understand the value of assets and debts.
In November, Saudi Arabia sports minister Prince Abdulaziz bin Turki Al-Faisal said he would support any private sector bids from the country for either a United or Liverpool takeover, although not financially as this would breach rules on multi-club ownership with the Saudi Arabian sovereign wealth fund already owning a controlling stake in Newcastle United.
The Qatar Investment Authority (QIA) has also been linked with a United takeover. The firm is state-backed, albeit a separate entity to Qatar Sports Investments (QSI), which owns Paris Saint-Germain and is a subsidiary to the QIA.
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