Qatar’s Sheikh Jassim Submits Late £5.5bn Bid To Buy Manchester United

Sheikh Jassim Bin Hamad Al Thani has submitted an increased fourth bid to buy Manchester United.

Sheikh Jassim’s renewed offer, believed to be close to £5bn but shy of the Glazer family’s £6bn valuation, was submitted to the Raine Group, the New York-based investment bank overseeing the sale of the club, on Tuesday morning.

The third and final round of bidding concluded on April 28 but, with reports last week claiming a revised offer from Sir Jim Ratcliffe and INEOS had put them in pole position to acquire United, Sheikh Jassim has moved again.

INEOS values United at a higher price than Sheik Jassim’s bid but it is not for the whole club and would give the Glazers the opportunity to keep a 20 per cent stake. United’s share price closed down to $18.80 on the NYSE on Tuesday, giving the club a market cap of $3.09 billion (£2.47 billion).

“What they have to decide is whether they take all of the money now from Sheikh Jassim or do they want some of the money from Sir Jim Ratcliffe while keeping a stake which would give them more money in the future.

“Are they going to consider what is best for Manchester United or are they just thinking about their own interests? They have to think about what is good for the club because this process has been totally undignified.

“It is unbecoming for a club as big as Manchester United to be treated the way it has. This has been hanging over everyone – the manager, his coaching team, the players – for six months.

“Why has this taken so long when it’s been obvious from day one that only two parties were interested in buying the club – Sheikh Jassim and the Qataris, and Sir Jim Ratcliffe?

“The Glazers have to make up their minds very quickly and realise it’s not just about what’s best for them, it’s about what is best for Manchester United. It is now or never.”