Ibrahim Oladamola
Sheikh Jassim has made a world-record bid in excess of £5bn to buy Man Utd with INEOS’ majority-stake offer also submitted ahead of Friday’s 10pm deadline.
The chairman of Qatar Islamic Bank’s final offer for the club was confirmed minutes before the 10pm deadline set by the incumbent Glazer family at the end of the third round of bidding, with fellow front-runner Sir Jim Ratcliffe, owner of INEOS, submitting his shortly after.
Sheikh Jassim’s offer would make United the most expensive sports team in history by at least £200m, eclipsing the £4.8bn ongoing deal to buy NFL side Washington Commanders, but still falls short of the Glazers’ own valuation of the club at around £6bn.
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It would include a guarantee of a separate pot of investment to strengthen Erik Ten Hag’s side, as well as developing the infrastructure around the club in terms of both the Old Trafford stadium and training ground, as well as the local area.
The Elliott investment fund’s planned bid for a minority stake in the club has yet to be confirmed, along with any other outstanding offers made late in the day.
Ratcliffe’s bid would buy only just over 50 per cent of United’s shares, leaving the Glazers with a minority shareholding of around 20 per cent, and still exerting a degree of influence over matters at Old Trafford.
The final round of bidding moves the club a step closer to ending the five-month saga since the Glazers first announced they were considering selling United in November 2022.
“People close to the Sheikh have been telling me they’re convinced this is the best bid,”
“They think there’s not one that comes close to this. It’s for 100 per cent of the club, it’s debt free, and money will be made available not just to Erik Ten Hag but also for improving the infrastructure around the club; doing the kind of thing Man City have done in Manchester.
“They believe this is the best bid, the final bid they’re going to make – now it’s up to the Glazers. Are they really serious about selling Man Utd with a world-record bid on the table? It’s not just exceptional for them, and will see them make an awful lot of profit, but the Qataris believe it’s also the best offer for the sake of the club.”
Over the coming days the Glazer family and Raine Group, who helped to complete Chelsea’s sale to American billionaire Todd Boehly last year, are expected to consider the bids on the table and which, if any, to accept.
