Sources: Qataris and Sir Jim Ratcliffe to be given access to top-secret Man United documents
Man United will give bidders access to the club’s confidential financial data as part of the next stage of the takeover process, sources have told Football Insider.
The Glazer family are keeping their options open at this stage and have, through auction masters Raine Group, courted bids for a full sale of the club as well as various financing arrangements.
British billionaire Sir Jim Ratcliffe and a Qatari group led by Sheikh Jassim bin Hamad Al Thani have submitted offers for a full takeover, while US firm Elliott Management proposes to fund a deal on behalf of a third party.
Another increasingly credible theory is that Joel and Avram Glazer could use external funds to buy out the four other Glazer siblings to remain at Old Trafford.
It is understood that none of the parties interested in a takeover have yet been granted full access to United’s classified financial library, a resource known as the ‘data room’.
That will change later this week after they meet for talks with club representatives, who will furnish bidders with the full gamut of information regarding contracts, sponsorship deals, and other financial assets and liabilities.
This is a crucial juncture as prospective new owners need a complete picture of the club’s finances in order to conduct due diligence ahead of lodging their final bids.
Hopes that a deal could be done by the end of March are fading fast, however, with the saga now likely to reach its conclusion closer to June.
A well-placed source has informed Football Insider that United have paused certain commercial operations, such as the final stages of the hunt for a new front-of-shirt sponsor, until after the ownership issue is resolved.
Minority shareholder Andrew Brown, executive director at specialist investment company East 72, told this site that the Glazers “cannot afford to own” the club and that there has “never been a better moment to sell.”
Brown also believes his view is shared by his former employers Rothschild & Co, the investment bank who, significantly, are acting as the Glazers’ financial advisors in the takeover process.
In other news, Man United fear they won’t be able to sell Harry Maguire due to ‘insane’ wages.