June 07, (THEWILL) – Sheikh Jassim bin Hamad Al Thani has reportedly submitted his fifth and final offer to acquire Manchester United.
Through his charitable organisation, the Nine Two Foundation, Sheikh Jassim aims to purchase the club in its entirety from the current owners, the Glazer family. The bid has been formally lodged with both the Glazers and the American investment bank, Raine Group, who have been overseeing the potential sale process.
Sheikh Jassim’s proposal stands as the sole bid that would grant him complete ownership of the renowned football club. United have been given a deadline until Friday, to respond to the offer.
Meanwhile, Sir Jim Ratcliffe, via his company, Ineos Group, is considered the frontrunner in the race to assume control of the club. Although Ratcliffe’s bid does not entail full ownership, it values the club at a higher price than Sheikh Jassim’s bid of £6 billion. Should Ratcliffe’s proposal succeed, the current co-chairmen, Avram and Joel Glazer, would retain their positions on the board.
The Glazers, who announced their contemplation of selling the club or seeking investment in November of last year, have yet to reveal their preference among the bidders. While the original deadline for the decision was set for April 28th, no determination has been made thus far. Nevertheless, Ratcliffe’s Ineos Group is widely regarded as the favoured contender, even in light of Sheikh Jassim’s recent bid.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
