British billionaire Sir Jim Ratcliffe has made an improved offer to purchase Manchester United from the Glazers, according to The Telegraph.
The Raine Group have been in charge of the takeover talks over the past few months and it seems clear that Sir Jim and Sheikh Jassim are the front-runners to buy the club.
Both were granted extensions after yesterday’s 9pm soft deadline and it is now revealed that Sir Jim, who has a net worth of £19 billion, has made an improved purchase offer.
Meanwhile, Elliott Investment Management (EIM) have also placed a bid. The US Hedge fund are looking for a minority stake, but are also willing to provide financing to other bidders.
Elsewhere, Finnish entrepreneur Thomas Zilliacus has made an approach which has been rejected.
Zilliacus proposed to buy 50 per cent of the club with the remaining to be purchased by the supporters. The offer was dismissed from the onset by the brokers.
Sir Jim and Sheikh Jassim in direct fight for ownership
Ineos group have officially confirmed that a ‘revised offer’ has been made to buy United and it appears only a matter of time before Sheikh Jassim makes a renewed proposal.
This could happen in the next 24 hours. We could then have a clear idea over the final bids on the table.
The Glazers are still undecided on whether to sell the club and it has been previously reported that they may not consider a permanent sale unless their £6 billion asking price is fully met.
The next few days should provide their stance over the situation. If they are not satisfied with the offers from Sir Jim and Sheikh Jassim, they could go with EIM’s investment proposal
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