Sheikh Jassim may try to force Glazer back with an improved offer in the 11th hour
The Qatar-backed bid for Manchester United has not given up hope of buying the club despite Sir Jim Ratcliffe being selected as the Glazer family's preferred bidder.
After three rounds of bidding and a three-month acquisition process, Ratcliffe and his company Ineos finally emerged as potential buyers of United - though not a full takeover at the time. this point.
The Glazer brothers, Joel and Avram, would keep a 20% stake in the club as suggested by Ratcliffe and that would be a deal breaker.
Sheikh Jassim bin Hamad al-Thani's bid is actually worth more in cash - around £5bn - but it's for a full takeover, with Ratcliffe bidding for a majority stake that actually values ??the club more than 6 billion pounds.
An official announcement confirming Ratcliffe as the preferred contractor is expected within the next few days, when final details of the purchase can be discussed and due diligence completed. However, according to the Times, Sheikh Jassim and his Qatari supporters are not ready to accept defeat and could respond with an 11th hour offer of improvement to get the Glazers to reconsider.
Any new offer is expected to come close to the £6 billion benchmark set by Ratcliffe and Ineos, while it remains to be seen whether Joel and Avram are willing to give up their stake.
Ineos President Jim Ratcliffe is pictured at Old Trafford
Ratcliffe is now firmly in the driver's seat to buy United (Image:
Reuters)
Unlike their four siblings, the two brothers - who are currently most actively involved with the club - are reluctant to sell and prefer Ratcliffe's offer to a complete takeover.
The Daily Mail also reports that the Qatari side believe they are still "well in the game" and are still in talks over a takeover, with further moves still allowed despite the deadline to make offers. Final.
Interestingly, Raine Group also oversaw the sale of Chelsea last year, and although Todd Boehly and Clearlake Capital won the auction, another preferred bidder was selected before the American-led bid won. win. It's clear Qatar's offer still has room to increase their offer and force the Glazers to rethink - although the £1billion valuation gap could be a major obstacle.
Sheikh Jassim's bid was further hampered by the collapse of Credit Suisse in March where, according to reports, the Qatar Investment Authority, the second largest shareholder of the bankrupt Swiss bank, had to pay billions of dollars. la.
Ratcliffe, meanwhile, will likely seek to take full control of United within three years, but the current takeover structure will allow for more upfront payments for transfers and upgrades to Old Trafford and the pitch. Carrington campaign.
blogpay
Total Comments: 0