Potential buyers from the United States to submit new offers

MANCHESTER, England (AP) – After a series of meetings, a second round of bids for Manchester United will take place on Wednesday.

Representatives of Sheikh Jassim bin Hamad Al Thani visited Old Trafford and the training facilities last Thursday, in addition to meetings with club managers. Jim Radcliffe entered talks with the club on Friday and was seen greeting chief executive Richard Arnold. US investment firm Elliott Management is also in talks to provide acquisition capital or other financing options.

Last month they made their first offer to Commercial Bank Raine. Sheikh Jassim and Ratcliffe have confirmed that they intend to buy the Glazer family, who are the current majority owners of the club.

The second stage of the process involved an analysis of the club’s finances and meetings with senior managers before a new bid was submitted.

Sheikh Jassim is the Chairman of the Board of Directors of Qatar Islamic Bank and is the son of the former Prime Minister of the State of Qatar. He seeks 100% control of United with the intention of investing in the stadium and training facilities.

Ratcliffe is a British billionaire who owns petrochemicals company Ineos and is seeking a majority stake after his failed bid to buy Chelsea last year.

United is expected to become the most expensive team in history, and its purchase could reach $6,000 million.

Last year, Ryan was responsible for selling Chelsea to Todd Bohle and Clearlake Capital for $3,000m.

Potential new owners will likely have to spend close to $1 billion on a new stadium.

Palestinian Authority