representative image.© AFP
to rival bidders Manchester United British media reports said on Wednesday that talks are due to take place at the Premier League club’s Old Trafford ground this week. The club’s owners, the unpopular Glazer family, announced in November that they were undertaking a strategic review with the sale of United one option on the table. Qatar’s Sheikh Jassim bin Hamad Al Thani and British billionaire Jim Ratcliffe have bid for the 20-time English champion. Britain’s Press Association said representatives of Sheikh Jassim were due to arrive in Manchester on Thursday, with Ratcliffe set to attend a presentation by senior management the following day.
Qatari banker Sheikh Jassim is aiming to take 100 per cent control of United and has drawn support from some fans by promising to wipe out United’s debt.
United fan Ratcliffe’s INEOS company is looking to gain majority control by buying the Glazers’ stake.
No bid has been deemed to match the £6 billion ($7.2 billion) asking price by the current owners.
Elliott Investment Management has also made it to the next stage of the bidding process, though the US-based firm is said to be offering funding rather than an acquisition.
The Glazers saddled United with huge debts and have seen a major drop in the club’s fortunes – the League Cup win at Wembley last month was their first trophy for six years.
Ratcliffe, 70, already owns French Ligue 1 side Nice and Swiss outfit FC Lausanne-Sport.
(This story has not been edited by NDTV staff and was auto-generated from a syndicated feed.)
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