SHEIKH Jassim bin Hamad al-Thani of Qatar has made his fifth bid to buy Manchester United from the Glazers family.
According to multiple reports today, the bid is believed to be worth $6.5 billion with another $I billion of pledged investment included.
The bid, which is for 100 percent of the club, is through Sheikh Jassim’s Ninety Two Foundation and the Qatar billionaire has given Friday as the deadline for United to accept or reject it.
The Daily Mail reported that Sheikh Jassim submitted the offer directly to the Glazer family, and Raine Group, the American bankers managing the long-running sale process.
The offer is believed to be fully cash and a simple transaction, which would clear Manchester United’s debt and provide funding for player, infrastructure and other investment needs.
Sheikh Jassim faces competition from British petrochemicals billionaire Sir Jim Ratcliffe, who is offering a deal that could keep the Glazer family in control.
Ratcliffe’s offer is for a majority of the club, structured in a way that will involve the Glazer family for a few more years.
The American Glazer family, who bought over the club in a heavily leveraged deal in 2005 and loaded it with debt, are said to be favouring Ratcliffe, although he is not offering as much money as Sheikh Jassim.
