As reported by the Manchester Evening News, Manchester United owners expect numerous offers to be made before the first deadline for selling the club expires on Friday.
The Glazer family announced in November 2022 that they would be ready to sell United.
The US bank that handled the sale of Chelsea, Raine Group, was chosen to oversee the sale shortly after that announcement, and they established what is referred to as a “soft deadline” for opening offers.
After that, interested parties are requested to submit their starting offer and supporting documentation.
Although a price has not been set for the club, insiders have verified that the Glazers anticipate selling it for roughly $6 billion. However, depending on the number of interested parties, some believe it may sell for up to €10 billion.
Only a small number of known bidders, including British billionaire Sir Jim Ratcliffe and at least one entity with a base in Qatar, are currently expected to submit offers.
United anticipates “several bids” for the team, which many consider being the most recognisable football brand in the world.
A bid was also expected to come from Asia with the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, a well-known United supporter.
There may be other Asian proposals as well; parties from the United Arab Emirates and India are also known to have looked into potential offers, so Qatar may not be the only one.
Several of the many interested parties are anticipated to submit bids on Friday. Since Friday’s deadline is approaching close, there would be more competition among the interested parties.
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After the deadline of February 17 has passed, Raine Group will evaluate the offers and hold discussions with the relevant parties before making recommendations to the Glazers, who will ultimately decide which offer to accept and may not always choose the most lucrative one.
The sale is expected to be completed before the current Premier League season ends in May.
