Man United takeover: When Reds could have new owners and how much club is worth

The Glazer family are considering selling up and they have multiple parties now bidding to take over the club.

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The Red Devils are one of the world's most successful sides, but they are without a Premier League title since 2012, and fans have been left disappointed in the lack of investment in the club's infrastructure.

Old Trafford was once a venue to be proud of but is now old-fashioned and outdated compared with some of the more modern stadia.

But despite this, who wouldn't want to own Manchester United? The club is already massive and it could become a dominant force on the field once again with the right owner.

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How much is Manchester United worth?

As you can probably guess, the numbers that the Glazers are demanding for Manchester United are mind-boggling.

The Americans bought United in 2005 for £790million and they are now demanding £6BILLION to finally sell the club.

That is an incredible amount of money and the Glazers, who are already wealthy, are going to walk away with six times more than what they initially paid.

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On the New York Stock Exchange, United are valued at £3.2billion, while their total revenue from last season came to £609million.

We are talking about a global superpower that earns more than a lot of companies around the world, and that power and sheer wealth is an attractive prospect.

However, the Old Trafford-based club is also laden with debt totalling £659million, which would have to be taken into consideration.

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Who are the main takeover contenders?

The main contenders to take over Manchester United are Sheikh Jassim Bin Al Thani and Sir Jim Ratcliffe.

Both parties submitted an offer but they did not meet the asking price set by the Glazers.

Despite this, they were put through to the second round of bidding where neither submitted their offer before the deadline.

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This has led to the deadline, which was set for Wednesday night at 9pm, being extended at their request.

Associates of Qatari banker Sheikh Jassim and British billionaire Ratcliffe were briefed that they had tabled new bids ahead of the deadline.

But amid confusion on Wednesday, sources close to the Raine Group, who are acting on behalf of the Glazer family, insisted no formal bids from the pair were received.

United sources now say that the club has granted the Qataris and INEOS boss Ratcliffe more time to submit their offers.

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They are expected to ratify world-record bids, worth around £5billion, by the end of the week.

talkSPORT has also been told that several other groups interested in buying a smaller percentage of United did meet the initial Wednesday deadline.

Sheikh Jassim, the son of a former Qatari prime minister, is the chairman of Qatar Islamic Bank.

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He has said his interest is a private initiative through his Nine Two Foundation and is not connected to the Qatari state.

He is a lifelong fan and he has stated that he wants to 'return the club to its former glories'.

After making a bid, Sheikh Jassim's statement read: "Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club.

"The bid plans to return the club to its former glories both on and off the pitch, and - above all - will seek to place the fans at the heart of Manchester United Football Club once more.

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"The bid will be completely debt free via Sheikh Jassim's Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the club supports.

"The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world. More details of the bid will be released, when appropriate, if and when the bid process develops."

Although, Ratcliffe's bid might be the most palatable option to large numbers of Man United supporters.

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The 70-year-old is Britain's richest man, owns INEOS and is also a lifelong Manchester United fan.

He understands the club more than some of the other parties and has secured huge financial backing from Goldman Sachs and JP Morgan - two of the world's leading banks.

That makes his offer all the more appealing - as he would have the power to make significant changes on and off the pitch if he were to be successful.

He is currently Nice's owner, so has experience in football and is more than willing to match the Glazers' asking price.

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The Brit's company have also confirmed their interest in buying the multiple Premier League champions.

Speaking earlier this year, an INEOS spokesperson said: "We have formally put ourselves into the process."

While little is known of other potential bidders but it is reported that US hedge fund Elliott Management have made a proposal that would involve offering finance to either new bidders or the Glazers.

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When could a takeover be completed?

The Raine Group, the Glazers' exclusive financial advisor during this process, demanded all bids for the club were to be submitted by 10pm Friday, February 17.

This deadline was met by bidders and they were moved onto a second round of bidding.

However, the deadline for the second round was Wednesday, March 22 and neither of the major parties submitted on time.

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So, the deadline has now been extended to allow for the bids to come in and for the Glazers to assess.

This takeover will be a long process as deals involving this much money are complicated and everything has to be considered.

Unlike the Chelsea sale last year, there isn't a set deadline for a takeover to be completed.

Of course, once the deal is agreed with the successful party, the Premier League must ratify the takeover through the Owners' and Directors' test, which usually takes place within a month.

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But it has been known to take a lot longer, so unfortunately for Red Devils supporters across the world, there isn't a set deadline for when this will be done.