Man Utd takeover news: ‘Fears’ over Glazers’ plans emerge while UK government ‘flag concerns’

Bidders hoping to buy Manchester United are expecting to hear back from the Raine Group this week regarding the next stage of the process, according to reports.

Offers were received from Sheikh Jassim bin Hamad al-Thani, Sir Jim Ratcliffe and Thomas Zilliacus before the second deadline last month, with numerous reports claiming other bids were received for a partial stake in the club. Elliott Investment Management are believed to have offered the Glazers the opportunity of renovating the club’s training ground and stadium, while the current owners would remain in control.

The Guardian, meanwhile, state there are fears ‘that the Glazers will ultimately cite the banking crisis as a reason for not selling’. It’s claimed the banking crisis could reduce the offers from interested parties, which may not reach the Glazers’ asking price. The Guardian add Ratcliffe’s offer may become ‘more conservative’ and not drive up prices in a bidding war.

“No immediate end to the United sale process is expected. Raine’s next response to the offers could range from cutting the process to a sole bidder, limiting it to two or extending the timeframe,” the same outlet report.

Elsewhere, UK government officials have privately ‘flagged concerns’ about the bank that Sheikh Jassim is chairman of, although there’s no suggestion that they will intervene on the matter, according to Bloomberg. Instead, the government are hopeful the Premier League will pose questions of the Qatari delegation.

The concerns relate to regulatory failings at the UK unit of Qatar Islamic Bank (QIB). Representatives of Sheikh Jassim declined to comment.