Football Insider sources claim that Raine Group, the merchant bank handling the takeover process, have asked for the confidentiality of certain information related to the Manchester United acquisition procedure from interested parties involved.
The Glazer family gave interested parties until Friday, February 17, to make takeover offers for the 20-time English champions.
The Raine Group, which is managing the takeover process on behalf of the Glazers, established the deadline for offers from potential suitors.
As such, Qatari banker Sheikh Jassim bin Hamad Al-Thani and British billionaire Sir Jim Ratcliffe have both made public their intent to buy United from the Glazer family, and have promised major investment in the club.
They are among the interested parties who are set for meetings with the club, and Raine Group before the end of March as the process enters its second round.
A recent report also claimed that Sheikh Jassim is leading the race to acquire the Red Devils.
However, now it is claimed that both bids are below the Glazers’ whopping £6 billion valuation of the club, which may delay any sale until closer to the end of the season.
According to sources, the Qatari consortium led by Hamad Al Thani and Ratcliffe’s INEOS are thought to have made tentative proposals totaling between £4.5 billion and £5 billion to buy the illustrious football team from the Glazer family.
Raine Group have previously sought to keep specific financial details under the table, including the proposed structure and value of offers.
Despite these requests, several parties participating in the process are accused of disobeying instructions meant to protect negotiation confidentiality, causing leaks concerning particular financial information.
Although there have been fewer offers than expected, there is still a lot of interest in buying Man United, with American firm Elliott Management among those looking to finance a sale.
The American group recently denied recent reports suggesting they would table an actual bid for 60% control of ownership.
A separate report from ESPN claims that there would be “clarity” regarding the ownership position by the end of the season.
On the pitch, Man United will be looking to recover from their demoralising 7-0 loss to fierce rivals Liverpool on Sunday when they play Real Betis in the first leg of their Europa League round of 16 matchup on Thursday.
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