• Deadline for offers passes as the race for Manchester United intensifies.
• The merchant bank Raine hired to assist in the club’s sale.
• Bidders are supposed to hear from Joined one week from now.

As British billionaire Jim Ratcliffe and Qatari banker Sheikh Jassim Bin Hamad Al Thani submitted new offers for the acquisition of the English football club, the competition to acquire Manchester United grew.

The merchant bank Raine hired to assist in the club’s sale accepted offers from interested parties until 2100 GMT on Wednesday.

The Glazer family, who own United, are said to have established a sports club’s record-breaking valuation of £6 billion ($7.3 billion).

In addition to providing financial support for the men’s and women’s teams, Sheikh Jassim’s bid for full control of the club promises to pay off United’s $620 million debt and invest in a new stadium and training facility.

AFP was informed by a source associated with Sheikh Jassim’s bid that he is still convinced that his offer is “the best for the club, fans, and local community.”

Ratcliffe, the founder of the INEOS chemical company and a former Manchester United supporter, has been more circumspect in his assessment, insisting that in the bidding war for one of football’s most storied clubs, he will not pay a “stupid” price.

Ratcliffe told, “How do you decide the price of a painting? How do you decide the price of a house? It’s not related to how much it cost to build or how much it cost to paint,”

“What you don’t want to do is pay stupid prices for things because then you regret it subsequently.”

Ratcliffe, who wants the Glazer family’s 69% stake, described United as a “community asset” and stated that his interest would be “purely in winning things.”

Since they took over the club in a leveraged takeover for £790 million in 2005, the Glazers have been deeply unpopular with fans. However, when they invited outside investment in November, they appeared ready to cash out at a huge profit.

However, they may choose not to sell a controlling stake in the club in the event that other parties are interested in a minority stake.

It was estimated that the first bids from the first round of bidding last month were worth approximately £4.5 billion.

That would surpass the Premier League record of £2.5 billion that was paid for Chelsea by a group led by LA Dodgers co-owner Todd Boehly and the private equity firm Clearlake Capital last year. An additional £1.75 billion was promised for investments in players and infrastructure.

Bidders are supposed to hear from Joined one week from now, with one more round of offering still in play.

It is possible to choose to enter a period of exclusivity if one bid is significantly ahead of the others. This would allow for additional negotiation before a final sale.

Ratcliffe and representatives of INEOS went to Old Trafford on Friday, one day after a delegation from Sheikh Jassim’s group went to the club’s stadium and training facility to hold additional talks as part of their due diligence.

A successful Qatari bid would secure the Gulf state a spot in the Premier League, the most-watched domestic competition in the world, just months after hosting the 2022 World Cup.

However, it would also be contentious.

Sheikh Jassim is the son of Sheikh Hamad bin Jassim bin Jaber Al Thani, the former Prime Minister of Qatar. Because of his close ties to the ruling class in the gulf state, it would be hard to believe that another Premier League club would be funded by the state.

Chief Association champions Manchester City’s fortunes have been changed since a takeover from Sheik Mansour, an individual from Abu Dhabi’s decision family in 2008.

The Saudi sovereign wealth fund acquired Newcastle’s controlling stake in 2021.

Reprieve Global have approached the Head Association to fix proprietorship rules to guarantee they are “not a chance for really sportswashing.”

Three-time European champions United have not won the Premier League since their 20th English title victory under legendary manager Alex Ferguson in his final season before retiring in 2013.

But under Erik ten Hag’s leadership, they are enjoying a revival this season and won the League Cup last month, ending a trophy drought that lasted six years.

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