Talks over the sale of Manchester United are continuing, sources connected with all parties have told 90min.
Reports have claimed that United’s current owners, the Glazer family, have backed away from a proposed sale of the club as they feel they are not getting the appropriate value, but it is understood lines of communication remain open between everyone involved.
90min has been told that United and Raine Group, the investment bank overseeing the sale of the club, had planned on everything being finalised by November, which would mark a year from when the Glazers first confirmed they were considering selling the club.
The main protagonists in the battle to win control for Old Trafford are two bidding groups, the Nine Two Foundation headed by Qatari-based Sheikh Jassim bin Hamad al-Thani, and INEOS, owned by British billionaire Sir Jim Ratcliffe.
Sheikh Jassim founded his foundation, named after United’s famous Class of 92 featuring the likes of David Beckham, Paul Scholes and Gary Neville, with the sole purpose of making a bid for United which was eventually increased to £6bn.
The bidding for United went through five rounds of bidding and the final offer from Sheikh Jassim is understood to be the largest on the table. The Qatari proposal is for complete control of the club and would see the Glazers leave United altogether.
However, the main rival bid for United comes from Ratcliffe. His bid is fronted by his INEOS group and is proposing buying a majority share which would then allow members of the Glazer family, namely current co-chairmen Joel and Avram, to remain at Old Trafford.