AfriPulse
Sheikh Jassim on Friday night, made a world-record bid of over £5bn to buy Manchester United.
The chairman of Qatar Islamic Bank’s final offer for the club was confirmed minutes before the 10pm deadline set by the incumbent Glazer family at the end of the third round of bidding, with fellow front-runner Sir Jim Ratcliffe, owner of INEOS, submitting his shortly after.
Sheikh Jassim’s offer would make United the most expensive sports team in history by at least £200m, eclipsing the £4.8bn ongoing deal to buy NFL side Washington Commanders, but still falls short of the Glazers’ own valuation of the club at around £6bn.
It would include a guarantee of a separate pot of investment to strengthen Erik Ten Hag’s side, as well as developing the infrastructure around the club in terms of both the Old Trafford stadium and training ground, as well as the local area.
The Elliott investment fund’s planned bid for a minority stake in the club has yet to be confirmed, along with any other outstanding offers made late in the day.
Ratcliffe’s bid would buy only just over 50 per cent of United’s shares, leaving the Glazers with a minority shareholding of around 20 per cent, and still exerting a degree of influence over matters at Old Trafford.
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