Qatari businessman Sheikh Jassim bin Hamad al-Thani made his final offer to purchase Manchester United this week before the banker vowed to end the sale process if the offer was rejected on Friday. The Qatari banker wants to obtain ownership as soon as possible in order to give Red Devils manager Erik Ten Hag adequate time to go shopping in the summer transfer window in order to strengthen the squad.
Qatar’s Sheikh Jassim lodges fifth and final bid for Manchester United ownership
Earlier this week, Sheikh Jassim launched a bid worth £6 billion to purchase the club from the Glazers and has stated that he will be moving out of the race should the bid not be accepted. The only other bidder competing against him is Ineos owner, Sir Jim Ratcliffe.
It is Ratcliffe’s intention to purchase about 51% of United, leaving the Glazers with a minority stake. Although Ineos is said to have had discussions with the Glazers about the framework of such an agreement, the company is not optimistic that a deal will be struck anytime soon.
Sheikh Jassim is believed to have increased his bid as a last ditch effort to become a proprietor, given that Sir Jim Ratcliffe only wants to buy the shares required to have controlling powers.
Sheikh Jassim submitted a fifth bid to buy 100% of Manchester United. It’s an improved bid with clear indication: take it or leave it. 🔴🇶🇦 #MUFC
There will be no more bids from Qatari group — after this Friday, Sheikh Jassim will no longer engage with the process. pic.twitter.com/yooZYUQsUC
— Fabrizio Romano (@FabrizioRomano) June 7, 2023
The Sheikh is confident that his proposal is the best option because it would wipe out a debt of around £1 billion. On top of that, he will provide a separate fund for player, infrastructure, and other investment requirements.
Glazers’ sluggish approach towards sale leaves Qatari camp irate
The Glazers put Manchester United up for sale back in November 2022, and since then, the Glazers have shown a laid-back approach to selling the club. Sheikh Jassim and his advisors have become rather irritated with the Glazers’ approach, and this laid-back approach forced him to announce a cut-off point for any further engagements should his bid be rejected.
https://twitter.com/QatariFC/status/1666838245877993473
Nevertheless, the Qatari Sheikh is determined to obtain 100% ownership of the Red Devils, and should he obtain it, he will definitely contribute to bringing them back to their former glory.
