Sir Jim Ratcliffe’s INEOS have confirmed that they have submitted a second bid to buy Manchester United.
Wednesday night was made as the cut-off point for interested parties to submit their revised offers for the the Premier League giants.
However, the deadline was extended at the request of Ratcliffe and Sheikh Jassim Bin Al Thani – the only two investors to publicly declare their interest in buying the club.
INEOS and Ratcliffe confirmed they had tabled their new bid on Thursday night – understood to be worth around £5billion – with a brief statement saying: “Ratcliffe and Ineos can confirm we have submitted a revised bid.”
Ratcliffe, who made an unsuccessful bid to buy Chelsea in 2022 and already owns French club Nice, visited Old Trafford last week.
The 70-year-old was born in the Manchester area and is a boyhood United fan. He is one of the richest people in Britain with an estimated personal fortune of £6bn.
The Qatari group – led by Sheikh Jassim – are expected to submit their revised bid in the next 24 hours.
United’s current owners, the Glazer family, have been looking for around £6billion for the club since the process started.
They are also said to prefer selling minority shares of the club, rather than a full takeover.
talkSPORT has been told that there several other groups that were interested in purchasing smaller percentages of the club met Wednesday’s deadline.
Despite the parties being given more time to submit their bids, talkSPORT’s Simon Jordan does not believe a deadline was ever in place.
He said: “We’ve always said from the get-go, if they [the Glazers] get the price they want – and it’s probably slightly north of £5billion, it certainly isn’t £6billion – [they will sell].
“There is a lot of misrepresentation in this – no one is getting extensions, because ultimately nobody expected anyone to put a drop-dead deal in place.
“What you’ve got is indicative offers, that’s the first stage. Show you’ve got the money, show you’ve got the means, show you’ve got the will – that gets you in the door.
“That then slims down the list of all the tyre-kickers and you get in a position of competitive tension. The Raine Group are doing their job which is to represent the Glazers and try to jack the price up between the various people who want to buy it.
“It’s not about deadlines, it’s just the process of selling a business.”
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