Sheikh Jassim has submitted a fourth bid to take over Manchester United, rivalling Sir Jim Ratcliffe. The QIB chairman’s bid is above the previous £5 billion amount, but is under the £6 billion asking price that the Glazers are holding out for.
The bid from Qatar has always been for 100% of the club, which would see the Glazers completely removed. However, Sir Jim Ratcliffe’s bid involved the Glazers staying on in around a 20% capacity. The plan for him is to eventually buy out their shares, and his bid is reportedly higher than that of Sheikh Jassim.
Manchester United bidding war: Sheikh Jassim makes fourth bid
Fans have been protesting against the ownership of the Glazers for years now, and Ratcliffe’s decision to have them stay on has been met with harsh criticism. The Ineos owner has not specified the usage of funds in his plans for the club, which has been done by his bidding rival.
The Qatari Sheikh has promised to clear the £1 billion debt that the club currently has. Moreover, there will be separate funds allocated solely for the redevelopment of the stadium, the training complex and the men’s and women’s teams.
The Raine Group has received bids from both parties, and will now present them to the Glazers. The final decision, however, is up to the current owners who could choose Ratcliffe’s bid simply because it would allow Joel and Avram to stay on as minority owners of Manchester United.