EXCLUSIVE: Qatar’s Sheikh Jassim submits new bid for Manchester United – setting a deadline of THIS FRIDAY for final negotiations – hoping to beat Sir Jim Ratcliffe in their £6bn takeover battle
- Qatari billionaire Sheikh Jassim wants to take full control of United
- But he faces competition from Ineos chief and Red Devils supporter Ratcliffe
- Sheikh Jassim has submitted a new offer directly to the Glazer owners of the club
The Qatari sheikh who wants to buy Manchester United has made a new bid – and has set a deadline of Friday.
Sheikh Jassim bin Hamad al-Thani has submitted the bid directly to the club’s owners, the Glazer family and Raine Group, the American bankers who have spearheaded the long-running saga, in a major power grab to seize control of the Premier League giants. to grasp.
Mail Sport understands that the sheikh has also told those involved that he will participate until Friday. After that, the offer will stand, but no further negotiations will take place.
The bid is Sheikh Jassim’s fifth bid since Mail Sport revealed details of the first in February. It remains for total control of the club and is believed to include a significant amount of investment in infrastructure and recruitment. No preferred bidder has been chosen as of the April 28 deadline for final bids.
Sheikh Jassim’s competitor, British petrochemical billionaire Sir Jim Ratcliffe, was thought to have an edge in the process. It now remains to be seen whether the latest high-stakes move is enough to convince the Glazers to part ways with the club.
Qatari billionaire Sheikh Jassim has made a new bid for a takeover at Manchester United
Sheikh Jassim wants to buy 100 percent of United and take over the club completely from the Glazers
But he faces competition from Ineos chief and United supporter Sir Jim Ratcliffe (pictured)
They are believed to value United at £6bn and the bid, while improved, falls short of that figure, which many consider bizarre.
Ratcliffe’s bid is for a majority of the club and has the potential for the Glazers to remain involved for a period of time.
There is growing frustration over how long the sale is taking, especially given the approaching opening of the transfer window. The trial originally began in November last year.
It is clear that the need to strengthen Erik ten Hag’s squad played a major role in the sheikh’s last and final step. He is eager to complete the takeover and provide the Dutch manager with significant resources for the new season.
Takeover talks at United have continued since the Glazers announced in November that they were open to selling the club.
Ratcliffe and Sheikh Jassim emerged as the two only suitors after launching offers for the club, widely regarded as one of the most prestigious in the world.
Yet according to The Financial TimesRatcliffe – Britain’s richest man – has tried to broker a deal that would keep United’s unpopular Glazer owners on board.
His proposed takeover – unlike Sheikh Jassim’s – would be for a majority shareholding at Old Trafford, as opposed to 100 per cent ownership in United.
Takeover talks have continued at Old Trafford since the Glazers announced in November they were open to a sale
However, Sheikh Jassim has now tested the Glazers’ resolve by launching his take-it-or-leave-it offering.
Avram Glazer was present at the FA Cup final last weekend, where United were beaten 2-1 by arch rivals Manchester City.
As he left Wembley on Saturday night, the American tycoon ignored a question from Sky about the long-running takeover saga.
Avram was asked: ‘Are you definitely selling Manchester United? Do you agree with Jim Ratcliffe or Qatari’s offer?
“Why don’t you talk to the fans? Don’t the fans deserve to know what’s happening with the takeover?’
Despite clearly hearing the reporter, Glazer marched right past him while refusing to make eye contact or answer the question.