Qatari Sheikh Jassim Bin Hamad Al-Thani will submit another bid to buy Manchester United on Friday, ESPN sources can confirm.
This is after Raine Group, the merchant bank handling the process for the sale of club set 10pm BST on Friday as the deadline of submitting in bids from interested buyers
Apart from Sheikh Jassim, INEOS, fronted by British billionaire Sir Jim Ratcliffe are expected to submit in a new bid to buy the club.
After the bid deadline, Raine Group will name a preferred bidder in the next few days in order to enter into a period of exclusivity.
According to sources, INEOS bid will include Joel and Avram Glazer retaining a stake in the club, a move that has prompted significant backlash from fans. While Jassim’s bid is a completely a full takeover as all the shares will be purchased.
The Glazer’s value Manchester United at around £6 billion, but financial experts value it at £3 billion.
Manchester United fans fear that the Glazers will accept INEOS bid and stay in control at Old Trafford, so they plan to protest ahead of Sunday’s Premier League game against Aston Villa .
The Glazers bought United for 790 million pounds in 2005 in a highly-leveraged deal which has been criticised for loading debt onto the club.
