Manchester United: The final bid date for interested parties is approaching.
On Friday, what is likely to be the final offer deadline for interested parties, the Manchester United ownership issue will take a huge step forward.
The deadline is expected to be 22:00BST, after which club owners, the Glazer family, will assess their position.
Despite various bidder recommendations, Qatari financier Sheikh Jassim and Sir Jim Ratcliffe’s Ineos remain the only known realistic bidders set to fulfill the deadline.
Finnish businessman Thomas Zilliacus says he has previously submitted offers but will not make another.
In November, the Glazers revealed that the board had “authorized a thorough evaluation of strategic alternatives,” including the sale of the club.
Raine Group, the investment bank that managed the sale of Premier League rivals Chelsea, was brought in to oversee the process.
Following a deadline for expressions of interest in February and a second deadline last month, a third deadline for bids is set for Friday. According to Bloomberg, bidders have been asked to furnish information about their wealth and financial intentions for the club.
It is known that much documentation has been required to reach this point, leading all parties to anticipate that the problem will be settled before the transfer market opens at the end of the season.
This week, there have also been speculations that Ineos could renegotiate their initial offer, which was for the Glazer family’s combined 69% ownership, in such a way that co-chairmen Joel and Avram Glazer could keep their personal investment.
It has been emphasized Ratcliffe has been steadfast in his desire for a majority ownership, lending credibility to the reports.
This action has already been criticized by the ‘1958’ fan club, which has sought a ‘Full Sale Only’ policy.