After missing out on Chelsea last year, British businessman Martin Broughton knows how potential buyers will be feeling ahead of Friday’s deadline to submit bids for Manchester United.
The late nights spent crunching the numbers. Checking and double-checking that financial backers will make good on their promises.“Just before you put in the formal bid you go through all of the debate,” Broughton, who has no intention of making a bid for United, told The Associated Press on Wednesday. “How much leeway do we leave ourselves? We need to be on the shortlist. At the same time, we don’t want to be overpaying.
So far Jim Ratcliffe, the British billionaire owner of petrochemicals giant INEOS, is the only confirmed bidder. But he is expected to face a challenge from Qatar, while other interested parties could become clearer after Friday. “Jim, in the Chelsea case, made it clear at the outset that he wasn’t going to be interested at that price, it was too much. Wasn’t interested in discussing, joining in with other potential bidders and then made this very late bid.”
A Qatari-backed bid is expected, while it is unknown if a rival offer from the Middle East will also emerge.
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