Sheikh Jassim Makes Last-Minute Bid to Acquire Manchester United
The owner of Qatar Bank, Sheikh Jassim, has made a last-minute offer to improve the bid, demonstrating his determination to acquire full ownership of Manchester United.
According to exclusive information from Mail Sport, Sheikh Jassim Bin Hamad Al Thani wants to outbid his competitor Sir Jim Ratcliffe by submitting a new and significantly higher bid.
The Qatari banking mogul hopes to receive a positive response from the Glazer family soon and finalize the agreement to take complete ownership of Manchester United, putting an end to the most talked-about transfer saga in the football world.
Previously, there were three bidding rounds with deadlines for final proposals set at the end of last month.
It seems that British petrochemical billionaire Ratcliffe has been in the lead. His offer, although not for 100% ownership of the club, valued Manchester United higher than the Qatar side.
Ratcliffe has also allowed Joel and Avram Glazer, the two brothers, a chance to retain a small stake in the club.
However, in a final effort to secure control of the team, Sheikh Jassim has made a significant breakthrough in the bid to buy back Manchester United, with an amount of around £5.6 billion.
The latest offer from the Qatar Bank owner is a substantial improvement over the initial bid, although there are sources suggesting that this valuation is still lower than Sir Jim Ratcliffe’s.
Nevertheless, Sheikh Jassim’s bid is to acquire the entire shareholding and is ready to pay the agreed amount immediately upon reaching an agreement.
Furthermore, Qatar is willing to clear Manchester United’s debts (worth £536 million) and promises substantial investments for squad upgrades and the redevelopment of Old Trafford stadium.