Manchester United reportedly remain in negotiations over potentially granting exclusivity to the consortium led by Qatar’s Sheikh Jassim bin Hamad al-Thani for the sale of the club worth up to £6billion.
United’s share price grew by a net level of almost 10 percent on Thursday after Reuters reported that negotiations have begun with an eye to awarding Sheikh Jassim’s consortium exclusivity to the takeover of the club.
Exclusivity has not yet, though, been offered to any party.
Sheikh Jassim entered five bids to United and sources close to him reportedly indicate that he is yet to hear back from United. The other bidder is British billionaire Jim Ratcliffe, who founded the chemicals producer INEOS and grew up in a town between Manchester and Oldham.
If the Qatari consortium won the race it would be for 100 per cent of United, whereas it has been alleged that Ratcliffe’s offer could be for as little as 60 per cent, meaning the Glazers would retain some assets if his current bid were accepted.
Sheikh Jassim’s venture, Nine Two Holdings Limited, has now become an officially listed UK company at a Norwich Street address in London.
Former United centre-back Rio Ferdinand took to social media to post a video update on Thursday, where he said: “Man United takeover is imminent. We’re hearing the Qatari bid is the one that’s taken taken over. It’s the one that’s going to be accepted, it’s the one that is going to go through.
“They are — it seems — the biggest bidder. The person who bids the most money is going to get the club, which is normal in negotiations.”
The original report from Reuters added that a new improved bid from Ratcliffe could yet impact the race.
