Qatar's Sheikh Jassim submits new bid to buy Manchester United, sets Friday deadline for final negotiations

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FOOTBALL Qatar's Sheikh Jassim submits new bid to buy Manchester United, sets Friday deadline for final negotiations

Joel Omotto 18:00 - 07.06.2023

The Qatari billionaire is looking to acquire full control of the Premier League giants who were put up for sale in November 2022

The Qatari Sheikh who wants to buy Manchester United has submitted a further bid – and has set a deadline of Friday.

In a major power move to seize control of the Premier League giants, Sheikh Jassim bin Hamad al-Thani has submitted the offer directly to the club’s owners, the Glazer family, and Raine Group, the American bankers managing the long-running saga.

According to the UK’s Dailymail, the Sheikh has also told those involved that he will engage up until Friday. After then, the bid will stand, but there will be no further negotiations.

The bid is the fifth made by Sheikh Jassim since February. It remains for total control of the club and is thought to include a significant further sum for investment on infrastructure and recruitment. No preferred bidder has yet been chosen since a deadline of April 28 for final bids.

Sheikh Jassim’s competitor, British petrochemicals billionaire Sir Jim Ratcliffe, had been thought to be edging ahead in the process. It now remains to be seen if the latest, high-stakes move is enough to persuade the Glazers to part with the club.

They are understood to value United at £6bn and the offer, while improved, does not meet that figure, which many view as outlandish.

Ratcliffe’s offer is for a majority of the club and has the potential for the Glazers to remain involved for a certain time period.

There has been a growing frustration at how long the sale is taking, especially given the imminent opening of the transfer window. The process originally started in November of last year.

It is understood that the need to strengthen Erik ten Hag’s squad has played a major role in the Sheikh’s latest and final move. He is keen to complete the takeover and arm the Dutch manager with significant funds ahead of the new season.

Takeover talks have dragged on at United ever since the Glazers announced they were open to selling the club back in November.

Ratcliffe and Sheikh Jassim emerged as the two sole suitors after launching offers for the club, widely considered one of the most prestigious on the planet.

Yet according to The Financial Times, Ratcliffe - Britain's richest man - has been attempting to structure a deal that would see United's unpopular Glazer owners remain on board.

His proposed takeover, unlike that of Sheikh Jassim, is understood to be for a majority of shares at Old Trafford as opposed to 100 per cent ownership of United.

However, Sheikh Jassim has now tested the Glazers' resolve by launching his take-it-or-leave-it offer.