Manchester United takeover bids extended after deadlines missed amid confusion
Sir Jim Ratcliffe, the owner of Ineos, and Qatari banker Sheikh Jassim are expected to submit new bids to buy Manchester United after the deadline for submitting revised bids was extended at their request, amid confusion on Wednesday night.
While several other proposed investors reportedly made their submissions by the deadline, it is unknown when the new deadline will be.
Both Ratcliffe and Sheikh Jassim had requested more time to make their second offers, which was granted by the investment bank conducting the sale.
Ineos is aiming to buy the combined Glazer shareholding of about 69%, while the Qataris are targeting 100% of the club.
Whether any prospective bidders can submit an offer that persuades the Glazers to sell is uncertain.
If not, and with United’s fortunes improving significantly in recent months under manager Erik ten Hag, the Americans may decide to retain the club and perhaps instead look to sell a minority stake to the likes of US hedge fund Elliott Investment Management.