According to reports, Qatari businessman Sheikh Jassim has ‘submitted a final offer’ at the ’11th hour’ to buy Man Utd from the Glazer family.
Jassim has been in the race to buy Man Utd from the Glazer family along with INEOS’ Sir Jim Ratcliffe.
In recent weeks, it has been widely reported that Ratcliffe is the leading contender to become the club’s new majority stakeholder.
While Jassim is only interested in a 100% takeover, Ratcliffe is willing to keep the Glazer family on board. The Brit has reportedly offered the current owners the opportunity to remain a part of the club with a 20% stake.
Journalist Ben Jacobs confirmed on Tuesday afternoon that Sheikh Jassim ‘will need’ to increase his offer if he wants to beat Ratcliffe in the battle for Man Utd.
‘Sheikh Jassim, via intermediaries, is expected to hold further talks this week, described by sources as in-depth. There is no guarantee his offer will be raised, but the feeling is it will need to be in order to stand a chance of succeeding,’ Jacobs wrote for Caught Offside.
‘Reports a bid has already been improved to £6bn are wide of the mark to my understanding. The official deadlines are gone and talks are more fluid now. So any bid would likely not be disclosed and be tabled in a less formal manner.’
According to The Daily Mail, a fresh offer has now been ‘submitted’. Their report states.
‘The Qatari billionaire who wants to buy Manchester United has made an extraordinary eleventh-hour ‘take it or leave it’ offer for the club.
‘Mail Sport understands that, in a seismic development, Sheikh Jassim Bin Hamad Al Thani has submitted a final, improved bid in an attempt to see off competition from rival Sir Jim Ratcliffe and conclude a deal for total ownership of the Premier League giants to end a protracted saga.’
A further update from Jacobs followed the report from The Daily Mail. He claims Jassim’s new bid “includes a separate pledged investment”.
“Can confirm Sheikh Jassim has made another increased offer for 100% of #MUFC, as revealed by @MikeKeegan_DM & @Lawton_Times. It will clear all debt and includes what’s being described by sources as a separate pledged investment (close to £1bn) directed solely at club and community.
“As previously reported, Nine Two Foundation had to go up to stand a chance and have never seen themselves as out of the race. The new offer is described as “increased” and follows verbal back and forth.
“It’s now on the Glazers. Like from the very start, a lot depends on whether Joel and Avram genuinely want to go. Sources do indicate they are determined sellers at the right price, but now they must show their hand.”