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Formal takeover offers for Man Utd due this week

Manchester United takeover offers are expected this week.

The Daily Mail says formal bids for United are due to be submitted in the next week or so.

The sale, which is expected to attract initial offers of at least £4billion, has attracted considerable interest from potential buyers in the US, the Middle East and Asia.

But the early front-runner in the race to buy United is British billionaire and boyhood fan Jim Ratcliffe, owner of the Ineos chemicals conglomerate.

US investment bank Raine is running the sale on behalf for the Glazer family, who has owned United since a controversial £790million leveraged takeover in 2005 saddled the club with huge debts and sparked fans' fury.

The Glazers finally put a 'For Sale' sign up outside Old Trafford in November when they said they wanted to 'explore strategic alternatives' for United 'including new investment into the club, a sale, or other transactions'.

United's share price has shot up on bid hopes since the announcement with the club now valued at £3billion ($3.67billion) on the New York stock market.

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