Manchester United
Manchester United: Sheikh Jassim presents fifth improved offer to buy club from Glazer family
![](https://sportcastinfo.com/wp-content/uploads/2023/06/Screenshot_20230608-000637.jpg)
Manchester United: Sheikh Jassim presents fifth improved offer to buy club from Glazer family
Qatar’s Sheikh Jassim and Sir Jim Ratcliffe’s INEOS presented their third bid to buy Man Utd on 28 April; Sheikh Jassim made a renewed offer on 17 May; latest major would eliminate £1bn of Man Utd debt and distribute separate club and community funds
Sheikh Jassim Bin Hamad Al Thani is said to have made a fifth-best bid for Manchester United this week.
The club announced in November that the board was exploring strategic alternatives to promote the club’s growth, with an option for a complete sale.
Sir Jim Ratcliffe and Sheikh Jassim both publicly confirmed initial offers in February and the latter is said to have made a fifth bid to take over United this week.
The offer remains 100% the club and those involved in Sheikh Jassim’s offer have indicated that this will be the final offer. Sky News understands Sheikh Jassim’s bid team will not be involved in the process after Friday, but this latest bid follows what was termed a “final offer” at the end of April.
Then, in May, a fourth offer – thought to be close to £5bn but below the Glazer family’s £6bn valuation – was presented to the Raine Group, the New York-based investment bank overseeing the sale. of the club.
The third and final round of bids concluded on April 28, but with reports last month that a revised bid from Sir Jim Ratcliffe and INEOS had put them in pole position to take over United, Sheikh Jassim now moved again.
Sheikh Jassim believes his bid is highly competitive and will bring huge benefits to Manchester United, including the cancellation of nearly £1bn of club debt and a separate fund to redevelop Old Trafford, the surrounding area and the Carrington club training ground.
INEOS prices United at a higher price than Sheikh Jassim’s offer, but it’s not for the whole club and would give Glazers the chance to retain a 20% stake. United’s share price closed at $18.80 on the NYSE in May, giving the club a market capitalization of $3.09bn (£2.47bn).
What the British press says…
“For the Qataris, prestige is paramount. They are absolutely in this race, they want to win. They’re so far away that they don’t want to look defeated.” So it’s about the price, so you see, we have a new offer.”
“Jim Ratcliffe would own only part of the club and I just think that this totally misjudges the mood of the Manchester United fans. Kaveh Solhekol was excellent when he said: everyone is tired of this, it’s time to move on. The Glazers need to hang on or turn around and make up your mind soon.
“I texted a friend from Manchester United before coming to ask which of Qatar or Sir Jim Ratcliffe he would prefer and he immediately told the sheik it would be wholly his property. Manchester United fans are fed up of the Glazer family. and not ‘I don’t want that property anymore’.
Man Utd bidders in profile…
A look at the publicly known bidders for Manchester United…
Sheikh Jassim Bin Hamad Al Thani…
The Qatari sheikh is chairman of the Qatar Islamic Bank, one of the largest banks in his country. His father Hamad Bin Jassim Bin Jaber Al Thani is a former Prime Minister of the Middle Eastern state. There is relatively little public information about him, but it is known that he attended boarding school in Britain and later attended the Royal Military Academy Sandhurst. During this time, he apparently fell in love with United.
Amid potential controversy over state ownership of clubs, Sheikh Jassim, in announcing his candidacy, made it clear that his interest was a private initiative of his Nine Two Foundation. He hopes he can control the club 100% and has vowed that if he does, he will pay off all debts, invest heavily in the club and its infrastructure and support local communities.
Mr. Jim Ratcliffe…
The 70-year-old Manchester-born businessman is one of the UK’s wealthiest people, with a personal fortune estimated at around £6billion. A childhood United fan growing up in a township, he founded chemicals company INEOS in 1998 and oversaw its growth to an estimated £50billion business.
His interest in sports has become well known in recent years. It owns French Ligue 1 side Nice and Swiss Super League team FC Lausanne-Sport, as well as the Ineos Grenadiers cycling team. Last year he made a bid for Chelsea, where he once had a season ticket, but ultimately lost out to American Todd Boehly.
Management Eliot…
Elliott Management is a US-based hedge fund that has bid for a small stake in Manchester United.
The company previously owned AC Milan but made a significant profit by selling the club to RedBird Capital in August 2022 for €1.2bn. Elliott took control of AC Milan in 2018 when Chinese businessman Li Yonghong defaulted on his over £300m debt to the hedge fund. The company’s London-based managing partner, Gordon Singer, will remain on the Italian club’s board as he retains a small financial stake.
Elliott’s numbers, which initially indicated they would help fund a potential bidder, made the rounds at Old Trafford and Carrington.
The company’s continued involvement in the process led to suggestions that the Glazers wanted to stay at United and that their money could be used to refurbish the club’s stadium and facilities.
- Manchester United11 months ago
Mason Greenwood Has Confirmed His Departure From England For The white Country’s National Team
- Manchester United1 year ago
‘I pleaded with Him to join Arsenal but He chose Man united over us’: William Saliba confirmed His £45m international teammate have agreed personal terms to join Man united over Arsenal
- Manchester United1 year ago
‘He is making the biggest mistake in his career’: Kelvin De Bruyne CONFIRMED his £50m international teammate have agreed personal terms to join Man united ahead of Man City
- Uncategorized11 months ago
Man United news LIVE: Glazer takeover price’met,’ Sheikh Jassim reacts, Jadon Sancho swap agreement
- Manchester United1 year ago
Man city boss Pep Guardiola is UNHAPPY as €65m European star tells him nobody can stop him from joining Erik Ten Hag’s Man united this season.
- Manchester United1 year ago
Celebration at Old Trafford Qatar’s Sheikh Jassim arrives at Man United to sign the takeover deal (deal 100% done by Fabrizio Romano) unverified.
- Manchester United1 year ago
Monday morning done deal: Man united completed the signing of £50m superstar as potential replacement for Erikson,all paperwork work signed last night,player set to undergo his medical at London Carrington today
- Manchester United11 months ago
Man United takeover ‘will happen,’ says Sheikh Jassim, who is willing to pay another £2 billion to complete the deal.