Manchester United sale: Bidders to begin due diligence process
Ineos and Sheikh Jassim publicly revealed their offers last month, while reports suggest the Glazers may favour a partial sale
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Bidders including Sir Jim Ratcliffe’s Ineos and Sheikh Jassim Bin Hamad Al Thani have moved to the next stage of the process that could lead to a takeover of Manchester United, it is understood.
This part will involve access to data room information and give bidders an opportunity to conduct due diligence.
It is expected it could be a slow process as bidders pore over the details of the club’s commercial contracts.
Sheikh Jassim and Ineos both confirmed their offers to purchase United from the Glazer family last month and are the only bidders to have gone public.
Sources close to wealthy banker Sheikh Jassim insist he is bidding alone as a private individual, without any direct or indirect support from the Qatari state or the country’s sovereign wealth fund, the Qatar Investment Authority.
The Manchester United Supporters’ Trust has expressed concerns around multi-club ownership – Qatar Sports Investments controls Paris St Germain – and around human rights.
Sheikh Jassim has indicated his bid would leave the Old Trafford club debt free.
Ratcliffe, a self-proclaimed United fan, is one of the UK’s wealthiest people with an estimated net worth of £12.5billion following the success of his global chemical company.
A statement from Ineos last month read: “We would see our role as the long-term custodians of Manchester United on behalf of the fans and the wider community.
“We are ambitious and highly competitive and would want to invest in Manchester United to make them the number one club in the world once again.”
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments