Sheikh Jassim makes world-record £5bn bid for Manchester United

With the deadline for a potential Manchester United takeover now over, Sheikh Jassim and Sir Jim Ratcliffe have both submitted bids to buy the club from the Glazers
Sheikh Jassim has submitted a world record bid for Manchester United
Sheikh Jassim has submitted a world record bid for Manchester United

(Football news) Manchester United have received a world-record bid in excess of £5bn from Sheikh Jassim while Sir Jim Ratcliffe’s INEOS have also submitted a majority-stake offer before Friday’s 10 pm deadline. Sheikh Jassim is the chairman of the Qatar Islamic Bank and his offer was confirmed minutes before the deadline as the third round of bidding came to a conclusion. Sir Jim Ratcliffe, the owner of INEOS, also submitted his bid shortly after. 

If accepted, Sheikh Jassim’s offer will make Manchester United the most expensive sports team in history by at least £200m, surpassing the £4.8bn deal for NFL side Washington Commanders but it still falls below the GLazers’ valuation of around £6bn. The Qatari royal has also included a guarantee for significant investment to strengthen Erik ten Hag’s side and develop the infrastructure around Old Trafford, Carrington training ground as well as the local area. 

As for Sir Jim Ratcliffe, his bid is for just over 50% of Manchester United’s share with the Glazers still keeping about 20%. However, Ratcliffe’s offer is being met with resistance from Manchester United’s supporters who want a complete takeover instead of a partial investment which will allow the Glazers to retain their voting rights. The final round of bidding has now concluded the five month saga surrounding Manchester United’s potential takeover of the club. 

Other minority investment offers such as the one from Elliot Managdment are yet to be confirmed. Over the coming days, the Glazer family and Raine Group, who was in-charge of Chelsea’s takeover by American billionaire Todd Boehly will assess the bids and decide if they wish to accept. Clarity over Manchester United’s future will be determined by next week but supporters and Erik ten Hag will hope that this matter is resolved at the earliest to ensure preparation for the next season.

Also read: Manchester United forced to settle for a point against Tottenham in the Premier League

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