The current proprietors, the Glazer family, are believed to have valued the club at £6bn. Sheikh Jassim bin Hamad, one of the recognized bidders, is reportedly refining his offer for Manchester United.
The deadline for proposals on Manchester United has been extended as the top two suitors prepare to submit offers.
Sheikh Jassim bin Hamad of Qatar and rival bidder Sir Jim Ratcliffe, a British billionaire, both requested additional time to refine their bids for Manchester United before the initial deadline.
It is believed that the Raine Group bankers supervising the possible sale granted additional time, but there is no known deadline for offers.
Sheikh Jassim bin Hamad was previously believed to be unwilling to overpay for the Premier League club, which the Glazer family is believed to have valued at £6 billion.
A Qatari delegation’s 10-hour visit to Old Trafford in recent days may have eased the businessman’s stance.
Last week, INEOS, Sir Jim’s chemical company, spent six hours meeting and touring Old Trafford and Carrington.
In November, the Glazer family said they would sell United, but they could keep control with a minority deal.
Also Sir Jim Ratcliffe, the owner of the French club Nice, indicated that he would not overpay for the club.
He asked the Wall Street Journal, “How do you determine a painting’s price? How is the price of a home determined? It has nothing to do with how much it cost to construct or paint.
“What you don’t want to do is pay ridiculous prices for things, because you’ll later regret it,” he said.
