Glazers ask for more from Manchester United bidders

THE owners of Manchester United want the remaining bidders for the team to increase their offers and to prove they can complete their proposed deals, the Financial Times reported.

British billionaire Jim Ratcliffe and Sheikh Jassim bin Hamad Al-Thani, the son of the former emir of Qatar, are in the final round of bidding to buy the team from the Glazers, an American family that has owned the club since 2005. 

Representatives for Ratcliffe’s Ineos, Al-Thani and Raine Group, the bank running the bidding process, declined to comment to FT.

While Al-Thani and Ratcliffe are vying to buy the club, others are looking at making smaller investments. Carlyle Group is in talks to pick up a minority stake in the football club, Sky News reported on Saturday (Apr 15).

The Qatari group has reportedly made an offer of about £5 billion (S$8.3 billion) for 100 per cent ownership of the club while Ratcliffe, a boyhood United fan, wants to buy the combined Glazer shareholding of 69 per cent. BLOOMBERG