Man United takeover , What is Sheikh Jassim's final bid and when is the deadline?
Sheikh Jassim bin Hamad al-Thani of Qatar has made a new bid to acquire full control of Manchester United. The offer was submitted directly to the club's owners, the Glazer family and Raine Group, who are overseeing the sale. This bid is Sheikh Jassim's fifth since the details of the initial bid were revealed in February. The Qatari's bid is for complete ownership of the club, but it faces competition from INEOS chief Sir Jim Ratcliffe.
The Glazers value Manchester United at approximately 6 billion, and the latest improved offer from Sheikh Jassim does not meet this valuation. In April, the Qatari submitted a bid worth over 5 billion, which included additional funding for transfers and infrastructure. However, it remains uncertain whether the new bid will convince the Glazers to sell. There is growing frustration about the length of the sale process, especially with the transfer window set to open soon.
Regarding the deadline, Sheikh Jassim has informed the involved parties that he will engage in negotiations until Friday. After that, the bid will stand, but there will be no further discussions. The Glazers initially set a deadline for the first round of bids on February 17, followed by a second round with a deadline of April 28 for those making a third offer. However, The Telegraph reports that the Glazer family extended the deadline until the start of the June transfer window, considering it a more realistic timeframe.
Sir Jim Ratcliffe, the INEOS chief, is another contender to purchase Manchester United. It is reported that Ratcliffe has been working on a deal that would allow the Glazer owners to remain involved. His proposed takeover is said to be for a majority of shares in the club rather than full ownership. Ratcliffe aims to acquire 69 percent of the Premier League giants or slightly more than 50 percent if Joel and Avram Glazer wish to retain their stake. In May, Ratcliffe was seen as the preferred bidder for the Glazers and was believed to be close to a successful takeover.
In summary, Sheikh Jassim of Qatar has submitted a new bid to acquire full control of Manchester United, but the offer does not meet the Glazers' valuation. The deadline for negotiations with Sheikh Jassim is approaching, and there is frustration about the length of the sale process. Sir Jim Ratcliffe is also a contender for ownership, aiming for a majority stake in the club. The Glazers have considered extending the deadline until the start of the June transfer window.
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