MANCHESTER UNITED’S takeover talks are set to ramp up further as club chiefs prepare to meet potential new owners on THURSDAY.
The Glazer family, who took full control at Old Trafford in 2005, revealed in November they were open to selling or handing off a stake in the club.
GettyManchester United could be set for new ownership[/caption]
AlamyAvram Glazer, right, and his family have opened the door to selling the club[/caption]
Since then, Qatari Sheikh Jassim Bin Hamad Al Thani and British billionaire Sir Jim Ratcliffe have both submitted their interest in purchasing the footballing institution.
According to The Mail, those that have made it through to the second stage of the process are now due to meet Man Utd bosses on Thursday.
It comes as merchant bankers Raine Group – put in charge of finding a buyer or investors – step up talks with potential bidders.
Following last month’s deadline for parties to declare their formal interest, Raine Group whittled down the possible options.
And a “period of due diligence” is already underway, with interested parties beginning that process last Monday.
Bidders are able to request financial information before travelling to Old Trafford for more in-depth discussions.
Neither Sheikh Jassim or Ratcliffe are expected to be at the talks, but representatives for both are set to attend.
Following the next stage, Raine Group will then select a specific party who will be allowed to see Man Utd’s financials in extensive detail.
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They will then be asked to submit a final offer – with the Glazers eyeing a price in the region of £6billion.
Along with the two public offers from Sheikh Jassim and Ratcliffe, at least two other bidders are thought to be interested.
There is also potential for the Glazers to remain involved in the club in some capacity.
And it is still possible they could decide not to sell at all, although investment for a £2bn renovation of Old Trafford is something that will likely require financing.
The Qatari bid want a deal to be completed by the summer transfer window in order to hand Erik ten Hag substantial funds.
And there is hope a change in ownership could happen as soon as the end of March, but the process would have to speed up if it was to be completed in the next few weeks.