Following this evening’s announcement from Sheikh Jassim Bin Hamad Al Thani that he has lodged an official bid to buy Manchester United from the Glazer family, rumours about the numbers have started to circulate.
The Glazers had been seeking between €5 – €10billion in exchange for 100% ownership of United.
The club’s value on the New York Stock Exchange fluctuates between figures around the €2.5bn mark.
The Raine Group, who are acting as financial advisors in the takeover process, set a “soft” deadline for parties to submit a bid along with proof of funds: tonight at 10pm UK time.
With such, Sheikh Jassim, the former heir apparent of Qatar, revealed that he had entered the bidding process. The Sheikh claims to be a “life-long MUFC fan.”
As part of an official statement delivered to the press, the Sheikh’s proposal was confirmed:
“Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club.
“The bid will be completely debt free via Sheikh Jassim’s Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the Club supports.”
L’Équipe journalist Loïc Tanzi has since reported that the offer “on the table” is €4.5bn.
Tanzi did not elaborate whether this bid includes the removal of the Glazer-induced debt from the club, which is around €1bn.
Mohammed Al-Kaabi, who uses the Twitter handle ‘@qatari’, meanwhile, has speculated that the bid is actually “around five billion.”
It is likely, however, that over the coming days reliable journalists will begin to filter through more specific and concrete details about the Sheikh’s bid.
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