SHEIKH JASSIM will make a second indicative bid to buy Manchester United ahead of Wednesday night’s 9pm deadline.
Representatives of the Qatari businessman were at Old Trafford and the club’s Carrington training ground last Thursday to hold more talks and receive further information to help them conduct their due diligence.
That work to go through United’s commercial arrangements continues but the PA news agency understands a second bid to buy full control of the club will be submitted on Wednesday.
Thursday’s meetings went on for 10 hours and were described as positive and constructive by sources close to Sheikh Jassim. They remain confident their bid is the best one for the club, the fans and the city of Manchester as a whole.
Sky Sports News has reported that more than five bids will be submitted by the Wednesday deadline, and potentially as many as eight.
Only Sheikh Jassim and INEOS have publicly declared their interest in buying the club, which the Glazer family who currently own it are reported to value at £6billion.
INEOS founder Sir Jim Ratcliffe told the Wall Street Journal he would not pay a “stupid” price for United, the club he supported as a child.
He said: “How do you decide the price of a painting? How do you decide the price of a house? It’s not related to how much it cost to build or how much it cost to paint.
“What you don’t want to do is pay stupid prices for things because then you regret it subsequently.”
However, Ratcliffe, who already owns French club Nice, said his interest in United would be “purely in winning things”, calling the club a “community asset”.
INEOS representatives, including Ratcliffe himself, visited United last Friday.
Sheikh Jassim did not attend last Thursday’s meetings but was represented by Shahzad Shahbaz, the president of the Sheikh’s newly-formed Nine Two Foundation, along with the Sheikh’s personal advisor Fady Bakhos.
Sam Powers and Yasir Shah from Bank of America were part of the delegation, along with lawyers from Macfarlanes and retail estate experts.
How much a painting cost to paint determines how much its worth……. and this man is a billionaire.. what a shocking analogy.
@Martin Glynn: he didn’t say that though did he?
@Martin Glynn:
He said it’s not related to how much it costs to paint
If 5 bids are expected tomorrow then why is it just the Qatari’s that get the headlines? Wasn’t it 42 that posted an article accusing fans of not objecting to their first bid, but have no problem using them as clickbait?
@Andrew Keane: very well said.
@Andrew Keane: you’d think going behind a paywall would have less of this clickbait crap but every publication is doing it now unfortunately.
They are selling for two reasons, first one is they can trouser 5 billion plus, second reason is they are unable or unwilling to fund the stadium and training ground upgrade which will probably come in at 2 billion pounds. That’s why glazers want out. Good riddance I say. Poor auld Jim is living in Dreamworld if he thinks the glazers are going to hand him the keys for 4 billion pounds, he doesn’t have the money needed to purchase the club and redevelop the stadium. The new owners will be the qataries.
If Utd s outlay on players without any money from the glazers , is almost a billion ! Why do they want to sell or why sell ? If they got in the people to identify the players needed and spent wisely , then their would be no need to sell out . Anyway , I’m convinced we eventually will have that so called Super league the greed merchants want .
@Tricksy: because the club remains in the 600m debt they lended it in. Because they’ve neglected the stadium and training facilities since taking over and now its estimated it’ll cost 1 billion to take care of that. They’ve already creamed millions out of the club, they’ve seen what chelsea sold for so as usual they’ve gotten greedy.
@Brian Dunne: Do you think the new buyers will clear the dept ? And will they re build the stadium ? I suppose the devil is in the detail , and Supporters should insist that part is included in any contracts before they are agreed . Supporters are the most important asset any club has and as you said before that the supporters arnt listened to , but taking them on has to happen . The majority of supporters outside of England won’t care as long as the silver is being won , when the true supporter s can see the greed .
@Brian Dunne: there’s many things you can blame them for but stadium issue is more complex. They havnt been able to redevelop due to surrounding area. Many fans complain about new stadiums being soulless. They took out seats to fit in more disabled ones and havnt taken the easy money renaming the stadium would have generated.
When new owners come in don’t be surprised if they have same issues with stadium. If Utd were to build a stadium fit to match demand,circa 90000, they would probably have to move out of Old Trafford
@Tricksy: Your own team and their sister club in Glasgow held back the rest of Scottish football with the 11-1 voting system out of pure greed too.
@Sun Rise: any club can use 11/1 vote , don’t be silly
Would love the United players to wear the rainbow colours next game as a f you to
The Qataris. Don’t want them anywhere near the club.