Sir Jim Ratcliffe and Sheikh Jassim of Qatar presented the Glazers with their last offers for the purchase of Manchester United on Monday.
The closing stages of the process have begun as the deadline for the last takeover offers for Manchester United passed on Friday night.
The two front-runners to lead United were Qatari banker Sheikh Jassim bin Hamad Al Thani and INEOS CEO Sir Jim Ratcliffe, neither of whom have agreed to accept the Glazers’ £6 billion asking price. Minority shareholders from other minority groups are also interested in contributing to the club’s funding.
The final proposals were received by Raine Group, the merchant bank managing the sale, on Friday at 10 p.m. Now that more details are expected in the near future, any investor will also need to invest in the club’s infrastructure in addition to the £6 billion needed to acquire the Glazers’ ownership.
Ratcliffe ‘leads’ the takeover race
Jim Ratcliffe seems to be in the strongest position to close a deal for the Red Devils as soon as possible after usurping the Qatari bid. The owner of INEOS is the ‘frontrunner’ for the buyout after Friday’s deadline, according to Mail Online.