Sale of Manchester United: Exhibitors to begin due diligence procedures

It is understood that the bidders, including Ineos from Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani, have moved to the next stage of the process that could lead to a takeover by Manchester United.

This part will include accessing data room information and giving bidders an opportunity to perform due diligence.

It is expected to be a slow process as the bidders review details of the club’s commercial contracts.

Sheikh Jassim and Ineos confirmed their offer to buy United from the Glazer family last month and are the only two bidders to go public.

Sources close to the wealthy banker Sheikh Jassim insist that he manages his affairs on his own as a private individual, without any direct or indirect support from the State of Qatar or the state’s sovereign wealth fund, the Qatar Investment Authority.

The Manchester United Supporters’ Fund has expressed concerns about the ownership of several clubs – PSG is controlled by Qatar Sports Investments – and about human rights.

Sheikh Jassim indicated that his offer would leave Old Trafford without debts.

A self-proclaimed United supporter, Ratcliffe is one of the richest people in the UK, with an estimated net worth of £12.5 billion following the success of his global chemical company.

A statement from Ineos last month said: “We will consider our role as long-term hosts of Manchester United on behalf of the fans and the wider community.

“We are ambitious and highly competitive and would like to invest in Manchester United to make it the number one club in the world again.”