Qatari banker Sheikh Jassim Bin Hamad Al Thani has submitted an improved fifth and final bid for Manchester United and wants an answer on Friday. Sheikh Jassim has been locked in a bidding war with British billionaire Jim Ratcliffe after the pair emerged as the main contenders to buy the Premier League club. United announced in November that the board was “examining strategic alternatives to boost the club’s growth”, with a full sale being one of the options. The current owners, the Glazer family, reportedly valued United at £6 billion ($7.5 billion) and the Raine Group was brought in to oversee the process.
The fifth bid, submitted last week, remains for 100 per cent control of the club. There is no indication when the Glazers will make a decision on the potential sale.
But Sheikh Jassim has set a deadline of Friday to move talks forward, according to sources close to the bid. While the final offer is expected to remain on the table after that, the end of the week would mark the end of Sheikh Jassim’s involvement in the process.
INEOS founder, chemical company Ratcliffe, appeared to be the frontrunner after a third round of bidding concluded at the end of April.
Ratcliffe, a childhood United fan who failed in his bid to buy Chelsea last year, is reportedly looking to buy a controlling stake of more than 50 per cent. That would allow the Glazers to stay involved — a move that would be deeply unpopular with supporters.
United lost the FA Cup final to Manchester City on Saturday, but they ended a six-year drought by winning the League Cup to finish third in the Premier League in Erik ten Hag’s first season in charge.
The lengthy ownership history means there is uncertainty over the club’s future as they prepare for a key summer transfer window.
Co-owner Avram Glazer was at Wembley for Saturday’s 2-1 defeat to City and ignored questions about the takeover as he left the interview room.
Asked about the possible takeover and improvements in the summer, United boss Ten Hag said: “I don’t think I want to talk about that at the moment.
“It’s about finishing the season. We have to be quiet, analyze the season, go in depth, then draw the right conclusions and then take action.”
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