Raine Group, the agency dealing with the sale of Man Utd, had granted extensions to Qatar’s Sheikh Jassim and Sir Jim Ratcliffe’s INEOS to make second bids; Finnish entrepreneur Thomas Zilliacus has additionally made an elevated supply; Elliott Management needs a minority stake; Glazers do need to promote

Sheikh Jassim Bin Hamad Al Thani has submitted a brand new bid to purchase Manchester United.

The deadline for second bids was 9pm on Wednesday however Sheikh Jassim‘s representatives requested for an extension on Tuesday and got extra time. The improved bid is claimed to be extremely aggressive but additionally thought of and rational.

Sir Jim Ratcliffe and INEOS submitted a revised bid on Thursday evening, whereas Finnish entrepreneur Thomas Zilliacus confirmed his holding firm XXI Century Capital has additionally made an elevated supply.

Elliott Management has made a suggestion to purchase a minority stake within the membership. The US hedge fund has additionally provided to finance different events desirous about investing in United and that provide nonetheless stands.

The first spherical of bidding came about final month and it has been reported there are as many as eight separate potential buyers.

The highest first-round bids to purchase the membership had been £4.5bn, however the Glazers need no less than £6bn.

Zilliacus to rivals: Let’s purchase Man Utd collectively

Finish businessman Zilliacus needs to purchase half of United with the opposite half purchased by followers, who will probably be a part of the membership’s decision-making.

Zilliacus, the founder and chairman of social media firm novaM Group, has appealed for Sheikh Jassim and Sir Jim Ratcliffe to “join forces” with him and “buy the club together”.

He mentioned in a press release: “I have appealed to my two main rivals, Sir Jim Ratcliffe and Sheikh Jassim, to join forces with me so that we buy the club together and that way channel more money to the club for everything from player acquisition to stadium upgrades.

“I nonetheless haven’t obtained any reply, so XXI Century Capital has elevated its bid. We consider our supply, which incorporates followers involvement in by no means earlier than seen methods in addition to values that the way forward for the membership will probably be constructed on, is the most effective for the membership and its followers.

“We continue to receive strong support from the fans, who say they want to see our bid win. I continue to hope that we could work together with Sir Jim Ratcliffe and Sheikh Jassim to improve the club, but as we have received no replies XXI Century Capital sees no other option than to increase its own bid.

“We are lifeless critical in our want to purchase the membership. We will make it the world’s greatest membership and we’ll considerably develop the already huge fan base world wide by providing followers in every single place unprecedented methods to be concerned and to speak with the membership and the gamers.”

What happens next?

It is now up to Raine Group, the firm handling the sale of United, and the Glazers to evaluate all the proposals they have received and decide on the next steps.

It should be revealed next week if there is going to be one preferred bidder, or if there will be another round of bids.

Man Utd bidders in profile

A look at the publicly-known bidders for Manchester United…

Sheikh Jassim Bin Hamad Al Thani

The Qatari sheikh is the chairman of Qatar Islamic Bank, one of his country’s biggest banks. His father Hamad Bin Jassim Bin Jaber Al Thani is a former prime minister of the Middle East state. There is relatively little information about him in the public domain, but it is known he attended boarding school in the UK and went on to the Royal Military Academy at Sandhurst, during which time he apparently fell in love with United.

Amid potential controversy about state ownership of clubs, Sheikh Jassim was clear when announcing his bid that his interest was a private initiative through his Nine Two Foundation. He hopes to take 100 per cent control of the club and has vowed, if he does so, to wipe all debts and invest considerably in the club and its infrastructure and support local communities.

Sir Jim Ratcliffe

The 70-year-old Manchester-born businessman is likely one of the richest folks in Britain, with an estimated private wealth of roughly £6bn. A boyhood United fan who grew up on a council property, he based the chemical compounds agency INEOS in 1998 and oversaw its progress to grow to be an organization now price an estimated £50bn.

His curiosity in sport has grow to be well-known lately. He owns French Ligue 1 facet Nice and Swiss Super League outfit FC Lausanne-Sport, in addition to the biking staff Ineos Grenadiers. Last 12 months he submitted a bid to purchase Chelsea, the place he as soon as held a season ticket, however finally misplaced out to the American Todd Boehly.

Thomas Zilliacus

Finnish businessman Thomas Zilliacus is chairman of the social media group novaM Group and has submitted a suggestion for Manchester United via XXI Century Capital, an funding agency owned by his holding firm.

The 69-year-old, who had a short political profession after attending college, has submitted a singular bid to purchase half of the membership and says he’ll enable followers to purchase the opposite half. His internet price isn’t publicly recognized, however he isn’t regarded as price the identical as Ratcliffe.

Manchester United wouldn’t be Zilliacus’ first enterprise into sports activities, having been chairman of HJK Helsinki between 1982 and 1986. He was additionally an proprietor of Finnish ice hockey staff Jokerit.

Elliott Management

Elliott Management is a US-based hedge fund that has submitted a bid for a minor stake in Manchester United.

The agency beforehand owned AC Milan however made a big revenue by promoting the membership to RedBird Capital for €1.2bn in August 2022.

Elliott took management of AC Milan in 2018 when Chinese businessman Li Yonghong defaulted on a £300m-plus debt to the hedge fund. The agency’s London-based managing associate Gordon Singer stays on the board on the Italian membership having retained a minor monetary curiosity.

Figures from Elliott, who initially indicated they’d assist fund a possible bidder, obtained a tour of Old Trafford and Carrington final week.

The agency’s continued involvement within the course of had led to ideas the Glazers need to keep at United, with their cash doubtlessly getting used to redevelop the membership’s stadium and services.