Manchester United owners extend bid deadline as contenders prepare offers
It is believed the current owners, the Glazer family, has valued the club at £6bn. Among the known bidders, Sheikh Jassim bin Hamad is understood to be fine-tuning the submission for Manchester United.
The deadline for bids on Manchester United has been extended as the top two contenders prepare to submit their offers, Sky News understands.
Qatar's Sheikh Jassim bin Hamad and rival bidder, British billionaire Sir Jim Ratcliffe, had both submitted requests for more time to fine-tune their submissions for Manchester United ahead of the original deadline.
It's understood the Raine Group bankers overseeing the potential sale granted more time, but there is no known deadline for bids to be in.
Read more: The contenders to buy Man Utd
A delegation from Sir Jim's chemical firm INEOS visited the club last week, spending six hours attending meetings and touring the Old Trafford stadium and the Carrington training ground.
An option for the Glazer family, who announced they were open to selling in November, is an arrangement in which they could keep control of United by agreeing to a minority deal.
Sir Jim Ratcliffe, who owns French club Nice, hinted he would not pay over the odds for the club.
He told the Wall Street Journal: "How do you decide the price of a painting? How do you decide the price of a house? It's not related to how much it cost to build or how much it cost to paint.
"What you don't want to do is pay stupid prices for things because then you regret it subsequently," he said.
-sky news
