• Wed. Apr 17th, 2024

Sheikh Jassim Bin Al Thani submits world record bid in excess of £5billion as the Glazer family hold out for £6bn

Bynewsmagzines

Apr 28, 2023
Sheikh Jassim Bin Al Thani submits world record bid in excess of £5billion as the Glazer family hold out for £6bn

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Sheikh Jassim Bin Al Thani Bin Al Thani has submitted a world record bid of more than £5billion to buy Manchester United, talkSPORT understands.

The Qatari Sheikh had until 10pm on Friday night to submit his latest offer for the Red Devils in the third round of bidding.

Sheikh Jassim has submitted a third bid to buy United from the Glazer family

Sheikh Jassim has submitted a third bid to buy United from the Glazer family

Despite the eye-watering sum, the bid is still expected to fall short of the Glazer family’s £6bn valuation.

Sheikh Jassim, who has agreed to clear United’s debt, is confident his offer will be the highest bid, but knows he faces competition from British billionaire Sir Jim Ratcliffe.

The 70-year-old is prepared to let brothers Joel and Avram Glazer retain a minority stake in United.

The Raine Group, who are handling the sale process, are expected to name their preferred bidder as early as next week.

talkSPORT reported on Thursday how Sheikh Jassim remains fully committed to a full purchase of United.

Though Joel and Avram are believed to prefer a partial buyout rather than a 100 per cent sale.

The Glazer family are understood to be holding out for around £6bn

Getty Images – Getty

The Glazer family are understood to be holding out for around £6bn


Such a deal to keep the Glazer family as significant stakeholders in the club is unlikely to go down well, with supporters hoping to see the back of the American moguls for good.

As a result, fans could become more inclined to back the bid from Qatari banker Al Thani in order to enjoy a clean slate at Old Trafford.

Finnish businessman Thomas Zilliacus was also in the race to buy United, but he pulled out earlier this month as he blasted the ‘farcical’ bidding process.

The 69-year-old had vowed to stump up £3bn of his own money, while asking fans to cough up £1.5bn.

Ratcliffe is also keen to buy United from their American owners

AFP

Ratcliffe is also keen to buy United from their American owners

In a series of tweets, he said: “I have declined participation in a third bidding round for United.

“The bidding is turning into a farce, with the Glazers giving no respect to the club.

“The delays will make it very difficult for any new owner to build a winning team for next season.”

Zilliacus added: “Jim Ratcliffe, Sheikh Jassim and myself all were ready to negotiate a deal to buy United. Instead the Glazers chose to start a new round.

“I will not participate in a farce set up to maximize the profit for the sellers at the expense of Manchester United.”

The Glazers announced in November that they were exploring ‘strategic alternatives’ which could include a full sale of United.

The Americans bought the Premier League giants for £790million in 2005.

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