Fresh twist in Manchester United takeover saga as Sheikh Jassim submits fourth bid
Qatari bidder Sheikh Jassim Bin Hamad Al Thani has made an increased offer for Manchester United in a dramatic attempt to win the takeover battle with Sir Jim Ratcliffe.
Sheikh Jassim, the chairman of Qatar Islamic Bank, is understood to have submitted a new bid which values United at a similar price to Ratcliffe but is for 100 per cent of the club rather than the 51 per cent proposed by the British billionaire.
United owners the Glazer family now face a straight choice between selling their entire majority holding to Sheikh Jassim or staying at Old Trafford as minority owners alongside Ratcliffe.
It comes after three previous rounds of bidding failed to progress to a sale and with time running out to install a new owner in time for the close season.
The value of Sheikh Jassim’s latest bid is not known but it is thought to be nearer £5bn than the £6bn hoped for by the Glazers, with sources with knowledge of the situation describing it as “rational”.
After the third round of bids it was reported that the Glazers favoured Ratcliffe’s offer, which valued their shareholding higher.
Any sale that valued United in excess of £5bn would nonetheless represent a new world record for a sports team. NFL franchise the Washington Commanders has this month been sold for $6.05bn (£4.9bn).
As part of his offer, Sheikh Jassim has pledged to ringfence a further $1bn for investing in Old Trafford, United’s Carrington training ground and Erik ten Hag’s first-team squad and eliminate all of the Premier League club’s debt.
The Glazers remain widely unpopular among United supporters, having taken more than £1bn out of the club in interest and fees since their leveraged takeover in 2005.