(Football news) Sheikh Jassim has submitted an 11th hour bid to buy 100% stake of Manchester United on Tuesday morning, which was his fourth bid to buy the club. The third and final round of bidding reached a conclusion on April 28th which put Sir Jim Ratcliffe and INEOS in pole position to buy Manchester United, prompting Sheikh Jassim to submit one final offer. The Qatari banker believes that the fourth bid is very competitive and will erase nearly £1bn worth of club debt as well as redevelop Old Trafford, Carrington training ground and the surrounding area.

Sir Jim Ratcliffe’s bid values Manchester United at a higher price than other candidates but is not for 100% stake of the company. The INEOS bid will let the Glazer family keep 20% stake at the club, which appears to be a solution most Manchester United fans are dissatisfied with. The club’s share price closed down to $18.80 on the New York Stock Exchange on Tuesday, valuing Manchester United at $3.09 billion (£2.47 billion). It’s important that a resolution to this bidding process is found quickly, especially considering that the season is coming to an end and preparations for the 2023/24 season must begin shortly.

Sheikh Jassim is the chairman of the Qatar Islamic Bank, which is one of the biggest bank’s of the country. His father Hamad Bin Jassim Bin Jaber Al Thani was the former prime minister of Qatar. Sheikh Jassim has kept a relatively private profile but is known to have attended a boarding school in the UK and went on to the Royal Military Academy in Sandhurst. Meanwhile, Sir Jim. Ratcliffe is one of the richest people in Britain with an estimated worth of £6bn. The 70 year old is said to be a boyhood Manchester United fan and his company INEOS is worth an estimated £50bn.

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