Sheikh Jassim of Qatar has refused to increase his takeover bid for Manchester United following Sir Jim Ratcliffe’s adjusted offer.
The owners of Manchester United, the Glazer family have put the club up for sale since last November, but it remains uncertain if they will agree to a complete sale.
Since the sale announcement, three rounds of bidding have taken place, with Sheikh Jassim and Ratcliffe emerging as the top contenders to overthrow the Glazer family.
While Sheikh Jassim has consistently stated his interest in a 100% takeover of the Old Trafford club, Ratcliffe has decided to adjust his bid.
Initially pursuing a majority stake, the British billionaire now reportedly aims to acquire a 25% stake in Manchester United according to The Sun reports.
Reports also emerged earlier this week corroborating that the owners of the club are considering a £1.5bn offer from Ratcliffe for a 25 percent stake in the club.
Although Jassim’s proposals worth around £5bn is on the table, the Glazer family is holding out for £6bn without any indication of beating the price down.
The Sun has now reported that the Qatari group bidding for Manchester United will not increase their existing offer of £5 billion, despite the new deal being offered by Ratcliffe.
Jassim’s valuation of £5bn takes into account various factors, such as Manchester United’s poor start to the season, with six losses in ten games across all competitions.
Amidst the club’s miserable start to the season, there have been numerous unwanted records set under the United’s boss, Erik Ten Hag.
In addition, the club are also burdened with a £1bn debt and requires significant renovations to both Old Trafford and the Carrington training ground.
As it stands, if Jassim refuses to compromise his bid and Ratcliffe’s proposal is accepted, that means the Glazers family will remain in control of the club.
Meanwhile, the Glazers’ presence has garnered loud protests from many fans and former Manchester United players, making this stance undesirable to them.
Points to note in Manchester United takeover
Understand that Sheikh Jassim bin Hamad Al-Thani’s £5bn bid for Manchester United’s takeover is still on the table, even though Avram and Joel are hesitant to sell.
The Qatari banker is yet to receive a concrete response after offering £5 billion for the club and neither is he willing to pay more than the proposed amount.
Also note that in contrast to Sheikh Al-Thani’s desire to purchase the entire club, Ratcliffe was only interested in acquiring a majority stake.
And if the bid fails in favour of Ratcliffe, that means the Glazers family will remain in control of Manchester United.
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