Qatari chiefs ‘to fly to Manchester’ in next step for Man Utd takeover
Manchester United’s takeover process will accelerate this week, with interested parties reportedly expected at Old Trafford for crunch talks with US merchant bank the Raine Group. Qatari chiefs are said to be heading to Manchester for the next phase, along with at least three other parties.
According to the Mail, meetings at Old Trafford are set as Raine remain hopeful they can oversee a deal before the end of the first quarter.
The next stage of the investment process has reportedly already begun, with those who have progressed planning to meet key figures from Thursday.
The report claims that Qatari representatives will arrive in Manchester next week. INEOS chief Sir Jim Ratcliffe’s camp could hold talks in M16 sooner.
It’s said that Sheikh Jassim bin Hamad Al Thani, leading the Qatari bid through the Nine Two Foundation, won’t personally be jetting into England, nor will Ratcliffe.
Senior financial and executive representatives from both bidders will instead meet Raine and United to exchange information and look at Old Trafford first-hand.
JUST IN: Bellingham blanks Chelsea fans at Stamford Bridge hours after meeting
Despite Sheikh Jassim’s expected absence, there is ‘quiet confidence’ in Qatar that they will end the process by buying the club from the Glazer family.
He is reportedly viewed by several close to the situation as the favourite, given the embarrassment of riches at his disposal.
The report adds that Sheikh Jassim wants to be United’s new owner before the summer transfer window so he can offer Ten Hag ‘substantial funds’ to bolster his squad.
If Qatar is the chosen party, a period of exclusivity will follow the Old Trafford meetings, where they will be given full access to United’s data room before making a final offer.
Any successful bid will likely have to be worth around £6billion for the Glazers to relinquish control of the Red Devils.
On top of clearing the club’s debt, between £1bn and £2bn is expected to be required to redevelop Old Trafford or build a new stadium from scratch.
Planning for investment into the club’s Carrington training base is also underway, adding to the final cost of the sale.
Qatar and INEOS have been the only two parties to come public. However, the Mail claim that at least two other offers are in the frame.
Want the latest football news? Join our brand new Facebook group by clicking here
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Sports News Click Here
For the latest news and updates, follow us on Google News.