Manchester United news – latest: Qatari bid confirmed before deadline for offers
The Glazers have named Friday as the deadline for any potential offers while on the pitch United earned a 2-2 draw in Barcelona as Marcus Rashford scored again
Manchester United is up for sale. The club has been owned by the Glazer family since 2005 but the Americans announced in November last year that they would be putting the club up for sale following years of unrest and fan protests surrounding their ownership.
Today marks the first stage of that process with a soft deadline for potential takeover proposals to be submitted to the Glazers by 10pm GMT alongside a formally registering of any possible bidders interest. The document which will hold the proposal must include a paragraph-long statement from the interested buyer explaining how much of the club they want to own and what their offer is.
At this stage Sir Jim Ratcliffe is the only interested party to publicly announce his interest in taking over Manchester United. He is Britain’s richest man, who also owns French club Nice, and is a boyhood United fan. He confirmed in January he will be making a bid.
On the pitch, Erik ten Hag’s men travelled to Barcelona last night for the first leg of their Europa League play-off game. The host took the lead through Andreas Christiansen’s header before Marcus Rashford equalised and a Jules Kounde own goal but United in front. They couldn’t hold onto that lead though and Raphinha slotted home a lovely curling finish to beat David De Gea and keep the tie delicately poised ahead of the return leg at Old Trafford next week.
Follow along as we bring the latest updates on Manchester United’s sale and reaction from their draw with Barcelona:
Will the Glazers remain as Man Utd shareholders?
There is a possibility that the Glazer family won’t relinquish full control of Manchester United and instead sell of most of their shares to remain as minority shareholders within the new regime.
The Athletic ran a poll of Manchester United fans and asked whether they would be okay with this outcome. 98% of the people who voted wanted the Glazers to sell the club in it’s entirety.
Sir Jim Ratcliffe, Oldham born and the only bidder to make his interest public, is a favourite among the fanbase with around 66% of United supporters backing his bid.
Will the Glazers actually sell Man Utd?
According to some sources with an understanding of the discussions taking place concerning the sale of Manchester United. Tonight’s deadline may be anti-climactic due to suspicion surrounding the Glazers’ intentions.
There are several people who know Joel and Avram Glazer who doubt their desire for a full takeover of the club while the other four Glazer siblings, Bryan, Kevin, Ed and Darcie, are said to want out of Man Utd entirely.
As the Glazers are in charger there is nothing to stop them from extending the deadline should the offers fail to meet their aspirations.
The Raine Group - who is overseeing the sale - were targeting a price of £6bn to £7bn ($7.2bn to $8.4bn) and there remains scepticism in the industry about that fee being achieved. A lower price of around £5bn has also been rumoured which seems like a more realistic prospect if the Glazers are willing to take it.
Should today’s proposals appeal to the family then bidders will be granted full access to Manchester United accounts so that proper due diligence can be carried out.
There is no time limit on this step, although some feel everything ought to be wrapped up before the football season is over.
Erik ten Hag warns Marcus Rashford over ‘laziness’
Erik ten Hag has warned Marcus Rashford that he must avoid “laziness” to continue his rich recent vein of form.
Rashford was again on the scoresheet as Manchester United battled to a late 2-0 victory over Leeds on Sunday before netting against Barcelona last night.
A well-taken finish to beat Marc-Andre ter Stegen as the near post was the forward’s 2nd goal of the season so far, equalling his personal best tally in a single campaign.
Ten Hag is enjoying Rashford’s recent scoring run, but has urged the player to not get complacent and keep his “focus” to ensure it continues.
Erik ten Hag warns Marcus Rashford over ‘laziness’
Rashford scored Manchester United’s opener against Leeds to continue his scoring form
It felt like a loss’ - Rashford’s reaction to draw with Barcelona
‘Marcus Rashford continued his outstanding form when he netted against Barcelona to bring the scores level at 1-1 in the second half at the Camp Nou last night.
Both sides scored again but United were the ones to concede the late equaliser and Rashford told BT Sport: “It felt like a loss.
“We did well to get back into the game, stayed calm and composed.
“We tried to create chances when we could and we scored two quick goals, then felt in control of the outcome, but they are a top team and managed to get an equaliser.”
Rashford on his penalty shout
25-year-old Marcus Rashford was furious not to win a penalty having been felled by Jules Kounde on the edge of the box. It was a decision for which manager Erik ten Hag was booked as he protested about the lack of VAR intervention.
“I have not watched it back, but I don’t understand why the linesman or the referee thinks I am going down there?” Rashford said after the game.
“I have touched it past him, my foot is in front of the ball and he hits my leg. It is clear contact and was 100 per cent a foul. Hopefully the second leg is going to be another good game and we can go that one step further.”
‘We should have score four’ says Ten Hag
How long will the sale take?
There is no exact timeline for the sale of Manchester United. When interested parties are revealed after Friday’s soft deadline, the Glazers may well opt to extend the timeline for potential investors to come forward, hoping that a publicity battle will drive up the price buyers are willing to pay.
Should a deal be agreed upon, it would then have to receive ratification from the Premier League. Depending on the source of the money and the nature of the buyer it can vary as to how long this process would take.
PIF’s interest in Newcastle was announced in April 2020 but was not finalised until October 2021, for example.
How much is Man Utd worth?
The Glazers have set a £5bn valuation on the Premier League club but it is expected that bids after Friday’s deadline will not reach that price initially.
The club has a value of roughly £3bn on the New York Stock Exchange and there is a belief all of Friday’s offers will come in at least 30% under their £5bn valuation.
As a rough comparison Todd Boehly’s consortium bought Chelsea for £4.25bn so this will be the ball-park figure that the Glazers will want to aim for.
When is the deadline?
Friday’s deadline is, crucially, not the deadline for the sale of the club to be agreed. Instead, it is merely a deadline for interested buyers to register their interest and financial capability of buying the club from its current owners.
Bids do not have to be disclosed by the potential new owners with this process merely about gauging interest from interested parties.
What do bidders have to do before it?
In line with formally registering their interest, each party needs to submit a document to the Glazers by 10pm UK time.
In the document, there will be a paragraph-long statement from the interested buyer explaining how much of the club they want to own and what their offer is.
Manchester United sale explained: Everything you need to know ahead of the deadline
The sale of Manchester United is set to reach its first important stage with the soft deadline for potential takeover proposals to be submitted coming on Friday.
Manchester United have been owned by the Glazer family since 2003 but the Americans announced in November last year that they would be putting the club up for sale.
The announcement follows years of unrest and fan protests surrounding their ownership.
Ahead of Friday’s deadline, here is everything you need to know.
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