Manchester United bidders frustrated by lack of updates weeks after submitting second offers

Sheikh Jassim bin Hamad al-Thani and Sir Jim Ratcliffe are frustrated by the lack of updates from Manchester United since they submitted their second offer to buy the club, according to the Daily Mail.

There are growing fears that the slowness of the process may hamper the club’s transfer business this summer.

Bidders for United submitted their offers in March, but they have not received any information from the club or the bank handling the sale – Raine Group.

British billionaire Ratcliffe lodged his offer on March 23 through his INEOS Group. They submitted it a day after the proposed deadline for bids after asking for extra time to prepare their offer.

Hamad al-Thani submitted his second bid a day later. Elliott Investment Management also made a minority bid for United.

The club is considering the offer as the Glazer family want to retain control of the club.

Ratcliffe and Hamad al-Thani expected to hear back from the club within seven days, but there have no further developments.

Both bids are in the region of £5 billion. However, the Glazers are seeking £6 billion to part with their shares.

The next step will be to enter exclusivity talks with the preferred bidding party or call for a third round of bids.

Some people feel that the lack of progress is a tactic to increase the club’s price while they monitor all their options.

If the process keeps dragging, it may disrupt the club’s summer transfer window for whichever party gets the club.

Most fans want the Glazers to go and can’t wait for the sale to go through. It will be intriguing to see if they eventually relinquish control.