Bidders including Sir Jim Ratcliffe’s Ineos and Sheikh Jassim Bin Hamad Al Thani have moved to the next stage of the process that could lead to a takeover of Manchester United, the PA news agency understands.
This part will involve access to data room information and give bidders an opportunity to conduct due diligence. It is expected it could be a slow process as bidders pore over the details of the club’s commercial contracts.
Sheikh Jassim and Ineos both confirmed their offers to purchase United from the Glazer family last month and are the only bidders to have gone public.
Sources close to wealthy banker Sheikh Jassim insist he is bidding alone as a private individual, without any direct or indirect support from the Qatari state or the country’s sovereign wealth fund, the Qatar Investment Authority.