REVEALED! Panic as Qatar and Sir Jim Ratcliffe Missed Manchester United Deadline (Details)
There is a building panic in Manchester United’s takeover process after it has been revealed that Qatari and Sir Jim Ratcliffe Manchester United bids came after the deadline, MySportDab reports.
The two frontline bidders to take over the club reportedly missed the deadline for submission of their second bid.
Recall Manchester United has called for second bids after inviting bidders to presentations at Old Trafford aimed at exploring gray areas and other investment targets at the club.
Sheikh Jassim Bin Hamad Al-Thani sent a high-power delegation to Old Trafford for the presentation and takeover talks.
His rival, Sir Jim Ratcliffe arrived a day later for the presentation by himself and members of his Ineos team.
Talks with both parties is said to have lasted hours before they headed to Carrington for the presentation
They were given a 10-day ultimatum to submit their second offers for the club after the presentation.
The deadline for submission of second bids was set to expire on Wednesday at 9pm.
Now, according to Daily Mail, both Sheikh Jassim Bin Hamad and Sir Jim Ratcliffe failed to make their second bid for the club before the fixed deadline.
This has created palpable fear about the Glazers’ next decision given their reluctant drive toward the sale process.
Both Sheikh Jassim Bin Hamad Al-Thani representatives and Sir Jim Ratcliffe representatives have both insisted they had submitted their bid before the deadline but sources at Old Trafford have insisted they missed the deadline and were asked to be given more time to formalize the bid which was granted.
Despite the takeover process entering its final moments, it has been confirmed the Glazers are still undecided on whether to sanction a full sale of the club or sell stakes.
Meanwhile, it is hoped the missed deadline will not affect the takeover process.
Sheikh Jassim wants a total takeover of the club while Sir Jim Ratcliffe wants to buy majority shares.
Their first bid was around. £4.5bn, while their second bid is estimated to be in the region of £5bn.
There are reports, Sir Jim Ratcliffe is more likely to beat his rival from Qatar if the Glazers decide to sell the club.