Qatar-based Sheikh Jassim bin Hamad al-Thani has submitted a fifth bid for the full purchase of Manchester United.
According to the reliable Mike Keegan, Sheikh Jassim is keen to force the Glazers to sell the club and has lodged a new proposal for a complete takeover of the club.
Keegan reports, “The Qatari Sheikh who wants to buy Manchester United has submitted a further bid – and has set a deadline of Friday.
“In a major power move to seize control of the Premier League giants, Sheikh Jassim bin Hamad al-Thani has submitted the offer directly to the club’s owners, the Glazer family, and Raine Group, the American bankers managing the long-running saga.”
“Mail Sport understands the Sheikh has also told those involved that he will engage up until Friday.”
As per The Daily Mail, when Sheikh Jassim’s Friday deadline elapses, there will be no further negotiations with the Glazers.
Keegan added that this fresh bid contains the promise of a significant sum being being injected into the club for transfers.
The Glazers are yet to name a preferred buyer for the club, even as the opening of the transfer window edges ever nearer.
Sheikh Jassim’s main competitor in the race to take over the reins at Old Trafford is Sir Jim Ratcliffe.
Keegan points out that Sheikh Jassim’s fifth bid for the Red Devils values the English giants at £6bn.
“There has been a growing frustration at how long the sale is taking, especially given the imminent opening of the transfer window. The process originally started in November of last year.”
“It is understood that the need to strengthen Erik ten Hag’s squad has played a major role in the Sheikh’s latest and final move. He is keen to complete the takeover and arm the Dutch manager with significant funds ahead of the new season.”
Ben Jacobs backed Keegan’s report about the valuation of the club.
Jacobs remarked that the total value of the bid is around $6.5bn, with $1bn of pledged investment on top.
The latest offer went in earlier this week and is understood to be circa $6.5bn, with $1bn of pledged investment on top.
— Ben Jacobs (@JacobsBen) June 7, 2023
“Nine Two Foundation sources reiterate that their offer is for 100% of the club, is fully cash and is transactionally simple. Any sale would clear #MUFC’s debt and provide funding for player, infrastructure and other investment needs.”
“Nine Two Foundation sources point out that their offer is at an “enormous premium” on the current share price.”
Nine Two Foundation sources point out that their offer is at an "enormous premium" on the current share price.
— Ben Jacobs (@JacobsBen) June 7, 2023
Jacobs also reiterated that past Friday, Nine Two Foundation will walk away from negotiations if the Glazers do not accept what they have put on the table.
The ball is now in the Glazer family’s court.