Inside Manchester United bid as Premier League changes takeover rules
manchestereveningnews.co.ukHere are your Manchester United evening headlines for Wednesday, June 14. Inside Manchester United takeover bid as Sheikh Jassim and Sir Jim Ratcliffe await decision It’s been a long road for bidders since the Glazers announced United was up for sale in November.
Both Sheikh Jassim and Sir Jim first went public in February after submitting bids amid the first deadline. Bidders were required to contact The Raine Group, the US bankers overseeing the takeover, having done the same for Todd Boehly’s purchase of Chelsea last year.
Interested parties had to sign a Non-Disclosure Agreement (NDA) which prevents the release of any discussions about the process. ALSO READ: Joel Glazer is continuing to break his promise to United fans A number of bidders who opted against going public are thought to have entered in before the first deadline.
Offers were considered before some were granted access to a ‘data room’ which outlined the finances of the club. Read more here >>> Premier League announces change to takeover rules amid Manchester United sale process The Premier League has banned fully-leveraged buy-outs of its clubs.
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