Bidders together with Sir Jim Ratcliffe’s Ineos and Sheikh Jassim Bin Hamad Al Thani have moved to the subsequent stage of the method that might result in a takeover of Manchester United, the PA information company understands.
This half will contain entry to information room data and provides bidders a chance to conduct due diligence.
It is anticipated it may very well be a sluggish course of as bidders pore over the main points of the membership’s business contracts.
Sheikh Jassim and Ineos each confirmed their affords to buy United from the Glazer household final month and are the one bidders to have gone public.
Sources near rich banker Sheikh Jassim insist he’s bidding alone as a personal particular person, with none direct or oblique help from the Qatari state or the nation’s sovereign wealth fund, the Qatar Investment Authority.
The Manchester United Supporters’ Trust has expressed issues round multi-club possession – Qatar Sports Investments controls Paris St Germain – and round human rights.
Sheikh Jassim has indicated his bid would go away the Old Trafford membership debt free.
Ratcliffe, a self-proclaimed United fan, is likely one of the UK’s wealthiest individuals with an estimated web value of £12.5billion following the success of his world chemical firm.
A press release from Ineos final month learn: “We would see our role as the long-term custodians of Manchester United on behalf of the fans and the wider community.
“We are ambitious and highly competitive and would want to invest in Manchester United to make them the number one club in the world once again.”