Kieran Maguire can’t believe update on Qataris bid for Man United – ‘simply not worth it’
It is ‘strange’ that the Qatari bidders are fine-tuning the financial details of a Man United takeover.
That is the view of finance expert Kieran Maguire, who questioned Sheikh Jassim’s need to tweak details of his Man United bid.
Both Sir Jim Ratcliffe and Sheikh Jassim were granted an extension to their Man United bidding deadline after failing to submit offers on Wednesday’s 9pm deadline (March 22)
Sky Sports now report that both offers are set to be submitted by the end of the week, with Jassim’s offer reportedly worth around £5billion.
However, the Glazers have set a £6billion asking price for the Red Devils, and are refusing to budge on that figure according to the Daily Mail (18 February).
Jassim and Ratcliffe remain the favourites to secure a majority takeover at Old Trafford, although it is believed that up to eight proposals will be put forward to the Raine Group.
Maguire believes that purchasing Man United at the Glazer’s asking price of £6billion will mean United is no longer a cash-generating business and therefore the financial details become less significant.
“Both Jassim and Ratcliffe are entitled to the same degree of courtesy from Man United so the club had to grant both an extension,” Maguire told Football Insider.
“It could be that the relatively late showing of data and assets last Friday meant that the number crunchers in each party required a little more time to finalise their offers.
“It is, however, strange that they are fine-tweaking numbers when the Glazers asking price is simply not worth it.
“It wouldn’t be a cash-generating business for either party if they end up spending north of £5billion.“
In other news, Man United set to make £610m announcement as paperwork filed