Sheikh Jassim makes final bid for Manchester United

Qatari banker Sheikh Jassim bin Hamad Al Thani has submitted a fifth bid to acquire Manchester United, according to a reliable source close to the deal.

The bid is expected to be his final attempt, as he has decided to withdraw his involvement in the process after Friday.

Sheikh Jassim’s bid entails purchasing the entire club, which would effectively clear Manchester United’s existing debt. Additionally, his proposal includes a dedicated fund for the club’s development and support of the local community.

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Another prominent contender in the race to acquire the Premier League club is Sir Jim Ratcliffe’s INEOS Group.

In March, it was revealed that Manchester United’s outstanding financial obligations amounted to £969.6m, comprising of gross debt, bank loans, and unpaid transfer fees.

The current owners, the Glazer family, expressed their intentions to explore strategic alternatives and potentially sell Manchester United back in November 2022. While there has been no response from the Glazers since the previous bid deadline on April 28, there have been growing expectations within the INEOS camp that their bid might prove successful.

It is understood that Sir Jim Ratcliffe has suggested revising his acquisition plans, proposing to acquire a lower percentage of United compared to his initial offer. Initially seeking to secure the Glazers’ entire stake of 69%, Ratcliffe now aims to purchase slightly over 50%, allowing co-chairmen Joel and Avram Glazer to maintain some level of involvement.

However, the Glazer family has not yet indicated when they will make a decision regarding the future direction of Manchester United. Having purchased the club in 2005 for £790m, the Glazers have assigned a valuation range of £5bn to £6bn for the club.