Sale Of Manchester United FC : Qatar’s Sheikh Jassim Submits Fifth And Final Bid To Buy
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Qatar’s Sheikh Jassim bin Hamad al-Thani has reportedly submitted his fifth and final bid to buy Manchester United.
The club announced in November that the board was exploring strategic alternatives to enhance the club’s growth, with a full sale one option being considered.
Sir Jim Ratcliffe and Sheikh Jassim both publicly confirmed initial offers in February and the latter is understood to have this week made a fifth bid to acquire United.
The offer remains for 100 per cent of the club and those involved in Sheikh Jassim’s bid have indicated this will be the final bid.
Sheikh Jassim’s bid team will not engage with the process after Friday but this latest offer follows what was called a ‘final offer’ in late April.
Then in May, a fourth offer – believed to be close to £5bn but shy of the Glazer family’s £6bn valuation – was submitted to the Raine Group, the New York-based investment bank overseeing the sale of the club.
The third and final round of bidding concluded on April 28 but, with reports last month claiming a revised offer from Sir Jim Ratcliffe and INEOS had put them in pole position to acquire United, Sheikh Jassim has now moved again.
Sheikh Jassim believes his bid is a very competitive one which brings huge benefits to Manchester United, including clearing nearly £1bn worth of club debt and a separate fund to redevelop Old Trafford, the surrounding area, and the club’s Carrington training ground.
Jim Ratcliffe, the CEO of Ineos, is Sheikh Jassim’s primary competitor in the battle for buying the Premier League Football Club. Ratcliffe has made an offer to acquire the majority of the team’s shares.
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