According to reports on Sunday, Prince Jassim Bin Hamad Al Thani of Qatar and British billionaire Jim Ratcliffe’s bids to acquire Manchester United have advanced to the next round of a prospective purchase.
According to Miniechat Sports and The Telegraph, the buyers will now have the chance to do due diligence on the club by gaining access to specific financial data.
According to reports, neither offer has come close to the Glazer family’s current asking price of £6 billion ($7.2 billion).
After piling up massive debts for United via a leveraged £790 million buyout in 2005, the Americans have been very unhappy with United supporters.
The Glazers have also watched United’s performance significantly deteriorate on the field.
The English juggernauts’ victory against Newcastle in the League Cup final last weekend was their first trophy in six years, while their last Premier League championship came ten years ago.
Prince Jassim, a financier from Qatar, wants to assume full control of the 20-time English champions and has gained some supporters by promising to pay off United’s debt.
Nevertheless, the Qatari government’s record on human rights and the sports integrity of owning both Manchester United and Paris Saint-Germain have drawn criticism from the Manchester United Supporters’ Trust.
In order to take over controlling ownership of United, Ratcliffe’s INEOS business plans to buy out the Glazer family’s holdings.
Ratcliffe, a self-described United supporter, is one of the richest persons in the Country, with an estimated net worth of £12.5 billion as a result of the success of his international chemical firm.