A bid by Qatar’s Sheikh Jassim Bin Hamad Al Thani and British billionaire Jim Ratcliffe to buy Manchester United has advanced to the next stage of a potential takeover, according to reports on Sunday.
Sky Sports and The Telegraph say bidders will now have the opportunity to do due diligence on the club with access to detailed financial information.
No bids have been reported for the £6 billion ($7.2 billion) asking price of current owners the Glazer family.
The American has been deeply unpopular with United fans since he saddled the club with massive debt through a £790 million takeover in 2005.
The Glazers have also overseen a major decline in United’s fortunes on the pitch.
Victory over Newcastle in last weekend’s League Cup final was the English giants’ first trophy in six years and they last won the Premier League title a decade ago.
Qatari banker Sheikh Jassim aims to control 100 per cent of the 20-time English champions and won support from some fans by promising to write off United’s debts.
However, the Manchester United Supporters Trust has expressed concern over Qatar’s human rights record and the integrity of the sport that owns the Red Devils and French giants Paris Saint-Germain.
Ratcliffe’s INEOS company wants to gain majority control of United by buying the shares held by the Glazer family.
Ratcliffe is one of Britain’s richest men worth around £12.5 billion thanks to the success of his global chemical company.