Manchester United takeover chaos as bid deadline is dramatically extended via IrishTimesSport
Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani of Qatar are both believed to have made second, improved bids for Manchester United. Photograph: PAThe battle to take over Manchester United was plunged into chaos and confusion on Wednesday night after the deadline for the second round of bids for the club was dramatically extended at the last minute.
Representatives of the Qatari banker Sheikh Jassim bin Hamad al-Thani and the Ineos owner, Sir Jim Ratcliffe, had earlier claimed that their bids had gone in before Wednesday night’s 9pm deadline. However, it later emerged that it was not the case and that at least one bid – Ineos – had asked for more time.
A new deadline is yet to be confirmed but Ineos are expecting to make their bid in the next 24 hours. The Qatari bidders, meanwhile, are now awaiting to hear from the Raine Group, the banking firm charged with brokering the sale, before going back in. Both the Qatari consortium and Ineos are planning to make offers in excess of the highest first-round bid, which was believed to be approximately £4.5bn. However, well-placed sources are cautioning that they are still likely to be well short of the Glazers’ desired asking price of somewhere near the upper end of £5bn to £6bn.
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