Qatar billionaire Sheikh Jassim bin Hamad al-Thani has officially submitted his fifth offer to purchase Manchester United. The reported $7.5 billion bid will be his final offer for the club. This offer is for a 100% stake in the English Premier League team.
The bidding process for the Red Devils has become a bit of a circus since the Glazer family revealed that they would listen to offers back in November. Sheikh Jassim, as well as other potential buyers, have become annoyed with the Glazers about the affair. Despite publicly announcing the need for new investors, the family has drawn out the process in recent months.
Self-imposed deadlines have passed without resolve
Current ownership has previously put deadlines in place to seemingly speed up the bidding process. However, these ‘deadlines’ have come and gone without any firm resolution. Now, Sheikh Jassim may move on to other investment opportunities if United denies his bid. According to The Guardian, the current offer in place is valid until Friday.
The news outlet also suggests that Sheikh Jassim wants the deal done as soon as possible to be ready for the transfer window. Premier League clubs can officially start signing new players on Wednesday, June 14th. The investor wants to give club manager Erik ten Hag the most time necessary to have a concrete financial plan.
Qatar millionaire not alone in Manchester United offer
Currently, Sir Jim Ratcliffe is the only other public bidder. Nevertheless, the British billionaire’s offer to the Glazers is quite different from Sheikh Jassim’s bid. Ratcliffe reportedly wants to purchase just 51% of the Red Devils. This would then leave the Glazers on as minority owners. A deal between the Glazers and Ratcliffe, however, is not close.
It was revealed in March that United owed over $1 billion in a combination of overall debt, bank loans, and unpaid player transfer fees. The massive figures have surely affected negotiations with any potential new owners.
PHOTO: IMAGO / PA Images
200+ Channels With Sports & News
- Starting price: $33/mo. for fubo Latino Package
- Watch Premier League, Women’s World Cup, Euro 2024 & Gold Cup
The New Home of MLS
- Price: $14.99/mo. for MLS Season Pass
- Watch every MLS game including playoffs & Leagues Cup
Many Sports & ESPN Originals
- Price: $10.99/mo. (or get ESPN+, Hulu & Disney+ for $14.99/mo.)
- Features Bundesliga, LaLiga, Championship, & FA Cup
2,000+ soccer games per year
- Price: $5.99/mo
- Features Champions League, Serie A, Europa League & Brasileirāo