None of the contenders to take over Manchester United will be entered into a period of exclusivity during the sale process, according to journalist Ben Jacobs.
Both Sheikh Jassim, through his Nine Two Foundation, and the joint proposal from Sir Jim Ratcliffe and INEOS are the leading candidates to take over the club from the Glazer family.
The offers do differ, with Sheikh Jassim only wanting a full takeover of United. Ratcliffe, meanwhile, has offered to purchase a majority stake in the club.
Advert
After a near seven-month long process, the Daily Mail reported that there is now light at the end of the tunnel in terms of its conclusion. They report that lawyers representing both parties have been in discussions with US merchant bank Raine Group, who are leading negotiations on behalf of the Glazers.
Sheikh Jassim's camp submitted a fifth and final offer for United last week, and said they would walk away from negotiations if a response was not received by last Friday.
However, the offer is still on the table, and the Mail claim that, via sources, the delegation feel they are 'very much in the game' to take over United, with Ratcliffe's camp having been in advanced talks with Raine Group over recent weeks.
Advert
Now, a new report has shed more light on what will happen next in the process.
Jacobs gives Man Utd takeover update
Taking to Twitter, Jacobs claims that neither party would be placed in a period of exclusivity in the next step of the process - something which did occur during the sale of Chelsea last year.
He reports that talks normally associated with a preferred bidder have already been done by both groups, with 'no need to tell one they are 'exclusive' and 'no plans' to name a preferred bidder.
Advert
Jacobs then addressed the plans for the next stage of the process: "Plan is instead to have both groups be ready to complete without either being put in exclusivity.
"This also allows for maximum competitive tension with both waiting to see if they have the green light to sign. And minority investors, such as Carlyle, also doing the same."
He added: "Multiple groups are being lined up for completion, but my understanding is they won't now be formally told if they are 'leading' or 'preferred' before effectively being informed they have actually 'won'."
Featured Image Credit: PA / Alamy / AP Photo/Dave ThompsonTopics: Manchester United, Premier League