Reports indicate that the competition to acquire Manchester United is intensifying, with the inclusion of a third unidentified bidder in the takeover discussions.
In November 2022, the current owners, the Glazer family, disclosed their intentions to “explore strategic alternatives” for the 20-time English champions, including a potential outright sale of the club. The US bank Raine Group, responsible for overseeing the prospective deal, had set a tentative deadline of February 17, 2023, for interested parties to submit their initial bids.
Since then, prominent proposals from Sheikh Jassim bin Hamad Al Thani, the son of the former Qatari Prime Minister, and Sir Jim Ratcliffe, the British billionaire and INEOS CEO, have both advanced to the next phase of negotiations.
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according to a report published by The Sun, an as yet unnamed, under-the-radar third bid is believed to have entered the fray.
Bidders will visit Old Trafford and meet with the Raine Group over the next two weeks, with the mystery party – thought to be US-based – also on the guest list.
News of a possible sale will no doubt delight those Red Devils fans who have been vocal in their dislike of the Glazers, whose purchase of Man Utd back in 2005 in a highly leveraged deal has been criticised for loading debt onto the club.
But even with rumours of a third bid circulating, there remain growing concerns that a sale may not ultimately take place.
