Reports in Saudi Arabia suggested that Sheikh Jassim has won the Manchester United takeover race. However, it now appears that such is not the case yet. Although there is confidence among their party that their offer will be chosen, it has not been finalised as of yet.
The Glazers are taking their time to decide what they want to do. Sheikh Jassim, on the other hand, has made his final offer for the club, reinforcing it with a ‘take it or leave it’ stance. As a result, they will not be submitting any improved offer in case this one is turned down, meaning this is the best that they can offer.
The QIB chairman has been opposed only by Sir Jim Ratcliffe, the owner of Ineos and Britain’s richest man. It has been a two-horse race to take over United this far, but what’s interesting is that the two proposals are quite different from one another.
The Glazers are considering granting exclusivity to Sheikh Jassim following their latest bid, but they haven’t finalised the decision yet. They will not be allowed to negotiate with any other party if they enter into an exclusivity arrangement. However, a new bid from Sir Jim Ratcliffe might change their minds at this stage.
Manchester United takeover: Sheikh Jassim hasn’t secured ownership yet
Qatar’s interest in United is not the focal point of their bid. It seemingly has more to do with Sheikh Jassim, who is a fan of the club himself. Moreover, his personal wealth is significant enough to finance the business of the club, without being connected to the royal family.
Recently, PSG president Nasser Al-Khelaifi was consulted by Manchester United regarding the bidding process. He later stated that he simply offered his advice on the situation. A conflict in ownership is not expected, as the two clubs will likely have distinct owners even though they are both from Qatar and have ties to the royal family.
Manchester United takeover: What are the offers that have been made?
The Glazers have been holding out for a bid not under £6 billion to sell Manchester United. But their valuation has not been matched by either bidder as things stand.
Sheikh Jassim submitted a bid slightly over £5 billion for the club, and improved on the offer with his fifth and seemingly final offer. His terms are for 100% ownership of Manchester United, meaning the Glazers will be replaced completely. He has also said that he will pay off the debt of the club, which is around £652 million, and invest in renovating Old Trafford as well as the squad.
On the other hand, Sir Jim Ratcliffe has offered partial ownership stakes to the Glazers, which means that they will be able to stay on in a minority capacity. But, the plan is that their stakes will eventually be bought out. As a result, the Briton’s offer is less than that from the Qatari entourage.
United fans have been quite vocal about their dislike for the Glazers. The ‘Glazers Out’ movement has been going on for years now, and Ratcliffe’s stance has not gone down particularly well with the United supporters.
The bidding war between the two parties has been dragging on for months. And there seems to be no end in sight for the Manchester United takeover saga. But, with the season now over and the transfer window approaching, fans can be hopeful that a decision will finally be made regarding the ownership of the club amidst vast protests from fans.
