Sheikh Jassim Submits An Ultimatum Bid To Purchase Manchester United

Sheikh Jassim, a Qatari billionaire, has submitted an extraordinary eleventh-hour ‘take it or leave it’ offer to purchase Manchester United.

Futballnews understands that Sheikh Jassim Bin Hamad Al Thani has submitted a final, improved bid in an attempt to knock off rival Sir Jim Ratcliffe and conclude a deal for total ownership of the Premier League giants.

There have been several back and forth in regards to the sale of Manchester United with a deadline for final offers set last month.

Recent reports have it that British petrochemicals billionaire Ratcliffe was in a stronger position to takeover the club.

Sir Jim Ratcliffe’s offer is not for 100 per cent of the club’s shares. However, he did value United higher than the Qatari.

Ratcliffe is reportedly offering executive co-chairmen Joel and Avram Glazer the opportunity to stay with a partial stake for two or four years before finally exiting.

The offer by Sir Jim was seen as desirable to the brothers, who are really keen on staying in some capacity at Old Trafford ahead of finally cashing out.

Reports had it that a preferred bidder was to be chosen last week, with the transfer window closing in and United squad needing strengthening.

But fresh talks have been ongoing and earlier on Thursday, 16th May, 2023 Sheikh Jassim made a further move in a last-ditch attempt to seize control of the club.

The Qatari’s offer is believed to be significantly improved on his first, although it is still thought to value United at a lower price than Ratcliffe.

Sheikh Jassim wants to buy Manchester United so he can have a total control unlike Sir Jim’s offer that will still give the two brothers some shares.

The bid from the Qatari billionaire seeks to instantly clear out the club’s debt, which at the last count was around £536m.

The offer also contains the promise of significant investment in both the playing squad and the renovation of Old Trafford.

New York-based merchant bankers who managed the sale of Chelsea last year, Raine Group, are also overseeing the process.

It is not a question of if Ratcliffe’s Ineos Group will respond to the latest development but talks with all parties are thought to be continuing.

Ratcliffe is intending to take just 50 per cent share of the club which would lead to a gradual takeover that values the club at around £6bn.

Who Is Sheikh Jassim bin Hamad bin Khalifa Al Thani?

Jassim bin Hamad bin Khalifa Al Thani is the former heir apparent of Qatar who was born on 25 August 1978.

Jassim is the third son of the former Emir of Qatar, Sheikh Hamad bin Khalifa Al Thani, and the first child of the Emir with his second wife, Sheikha Moza bint Nasser Al-Missned.

He left his position as Crown Prince in 2003, to his younger brother Tamim, saying that he was uninterested in becoming Emir.