Manchester United’s current owners are seeking to elaborate on their valuation of the club during their next meeting with potential buyers after receiving disappointing opening offers, sources have confirmed. Among those who have submitted takeover bids are British billionaire Sir Jim Ratcliffe, the chief executive and founder of the INEOS chemicals group, and Qatari banker Sheikh Jassim bin Hamad Al Thani.
Initial offers fell below the £6 billion that was given by the Glazer family—Man Utd’s current majority shareholders. In response, the Glazers have resorted to breaking down their valuation of the club during investor meetings, focusing particularly on the club’s global fanbase which outweighs the likes of Premier League rivals Chelsea, Liverpool, and Manchester City.
Those close to Sheikh Jassim claim that the Qatari banker will not overpay for the club due to his belief that it will take a major investment to upgrade the Old Trafford stadium. There are also concerns regarding the investment that will be required to reestablish Manchester United as a team that regularly competes for the Premier League and the UEFA Champions League.
Aside from a full takeover, the U.S.-based Elliot Investment Management has offered an investment in the club rather than a takeover, affording the Glazers the opportunity to remain owners.