Manchester United takeover ‘paused’ amid Qatari frustration: reports
The club's owners the Glazer family reported they want around 6 billion pounds ($7.72 billion) for the soccer club, but the two bids value Manchester United at around 5 billion pounds.
There is growing concern that the process to takeover Manchester United has been put on hold by current owners the Glazer family, according to reports, and that the sale period will drag into the next English Premier League season.
The US-based financial firm Raine Group, which is overseeing the takeover of the British soccer club, set an unofficial deadline for final bids to be submitted for buying the team three months ago.
Two frontrunners have emerged in the race to buy the Red Devils — Sheikh Jassim bin Hamad Al Thani, a Qatari banker and son of a former emir of Qatar, and Jim Ratcliffe, Britain’s richest man and CEO of chemicals company INEOS.
The Daily Mail reported Wednesday that there are now concerns among those involved in the bidding process whether the Glazers family will actually sell the soccer club.
