Home » Raine Group invite one paragraph long applications to buy Man United

Raine Group invite one paragraph long applications to buy Man United

by Red Billy

The five expected bidders for Manchester United have until next Friday to submit a one paragraph application and proof of funds.

The club has been put up for sale by majority shareholders, the Glazer family, although they would also entertain a minority investment.

An aggressive deadline has been set, with bids to be submitted by Friday and the sale to be completed by the end of March.

To that end, interested parties “will have to submit a one-paragraph only offer – disclosing simply their bid and the percentage of the club they will to take,” according to The Daily Mail.

“Proof of funds will also have to be attached.”

The Mail goes on to reiterate its claim from earlier in the week that a group of private Qatari investors are hopeful of winning the bidding war.

“Five serious offers to take control of the club from the Glazer family are expected,” the outlet explains, “with dozens more likely to be on the table in the shape of investment rather than total takeover.

“When the bids are in, the battle will move to the next stage, which is likely to be the most intense. Raine will have the task of reducing those who have made offers to a key group of around two or three serious contenders.

“They will then face-off in a race to become the preferred bidder. At that stage, full access to United’s financials will be granted, to allow deep dives.

“Should the bidders not meet the Glazers’ valuation, and the Americans are thought to want around £6bn, they could instead head down the investment route. However, those involved expect a sale.”

In addition to the private Qatari bidders, Britain’s richest man Sir Jim Ratcliffe, a Saudi Arabian investor and three US companies are also believed to be preparing bids.

Ratcliffe is the only one to have gone public with his intentions.

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