Multiple Middle East consortiums have expressed their interest in submitting bids to purchase Manchester United, multiple sources have confirmed. Several of the consortiums have already submitted proof of funds in order to put themselves in contention for a potential takeover.
This comes after merchant bank The Raine Group, which is administering the sale process on behalf of the Glazer family, requested that interested parties prove their financial capacity to back up their offers on Friday.
Following widespread protests against their ownership of the club, the Glazers, who acquired a majority stake in Manchester United in 2005, announced that they would be exploring “strategic alternatives” in an effort to recover their investment.
Qatar’s sovereign wealth fund, Qatar Investment Authority, is heading a consortium to take full control of Man Utd. Another Qatari bid by private investors with support from the QIA is also being prepared, while investors from the Kingdom of Saudi Arabia are also expected to enter the race.
Aside from the Middle East parties involved, British billionaire Sir Jim Ratcliffe, the chairman of chemical company INEOS, has announced his intention to submit a bid for the club. U.S. asset manager Oaktree Capital is also believed to be considering a bid.
