Manchester United Braces For Third Round Of Bids; Eyes Offers Above $6B

Manchester United Ltd MANU proposes to accept a third round of bids from prospective buyers, due at the end of April.
Seven prospective ownership groups have received feedback from the Raine Group investment bank, which the Glazer family tapped to supervise the sale, Sportico reports.
The team will likely fetch over $6 billion.
INEOS owner Jim Ratcliffe and Qatari Sheikh Jassim bin Hamad Al Thani are the only bidders who have publicly declared their plan to buy the famous football club. The other five bids are private.
Al Thani is the chairman of Qatar Islamic Bank (QIB) and the son of the former prime minister of Qatar.
Ratcliffe's bid could value the club at over £5 billion.
The Glazers, who also own the NFL's Tampa Bay Buccaneers, shared their plans to accept potential bids for the team last November.
In March, Manchester United reported a second-quarter FY23 sales decline of 9.8% year-on-year to £167.3 million ($196.2 million), beating the consensus of $172.3 million.
The adjusted EPS loss of $(0.07) missed the consensus loss of $(0.01).
The stock lost 3.4% YTD, missing the broader index SPDR S&P 500 SPY gains of 7.5%.
Manchester United shares gained 65.8% in the past six months versus the broader index, which gained 14.4%.
Price Action: MANU shares traded higher by 4.32% at $22.24 on the last check Tuesday.