As reported by the Express, Manchester United had a breakthrough in ownership negotiations after it was revealed that Uefa would not block the Qatari investors from purchasing the club.
United fans were worried that any ownership offer would be rejected because Qatar Sports Investment already owned French giant Paris Saint-Germain. A Uefa rule says that a party can’t own more than one club in the same competition.
Because United and PSG often play each other in Europe, Uefa might have said that any attempt to take over was not allowed because the two teams were in the same event. However, it has now been revealed that a separate corporation from QSI will submit the offer to take over United.
The deadline for any potential purchasers to submit bids has been set to February 17 by Raine Group, which is in charge of managing the Red Devils’ selling process.
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The Glazers want to sell the club for up to £6 billion, but a range of just over £4 billion would be enough to seal a deal.
Sir Jim Ratcliffe was the first person to say he wanted to buy United. He has asked Goldman Sachs and JP Morgan for help, but the price is so high that he may not be able to close the deal.
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The owner of INEOS and the French club Nice is expected to reach an agreement with the current owners. It remains to be seen whether the Qatari investors are able to outbid Ratcliffe in the race to buy the club before the end of the season.
