Sheikh Jassim’s Nine Two Holdings recently became a UK company, sending supporters into a frenzy as speculation was rife that Qatar had beaten Sir Jim Ratcliffe to Manchester United.
However, it has since been explained that the paperwork is a formality and it is likely that both bidders would need to go through the proper formalities before potentially entering a period of exclusivity.
CBS Sports reporter Ben Jacobs recently explained the situation to GiveMeSport: “I’m basically told that they filed the paperwork months ago, before their last two offers. As a consequence, it doesn’t mean a great deal.
“You could say it shows that they’re serious and advancing, but it’s also an indication that the seller is lining up both groups to get to the point of signing. This shows, again, that a preferred bidder stage is not needed if all the logistical, financial and negotiation aspects of the deal are being done non-exclusively now.
“This is another example – you can’t complete the deal without incorporating a holding company. The fact that has now been incorporated is another thing done. Maybe that is part of the delay on the Qatar side, maybe they needed to wait for the date of incorporation to be official. Who knows?
“But I’m told it doesn’t mean a great deal. It’s just sort of a clue that they’re very much in the race.”
