Manchester United sale: Sheikh Jassim to submit bid
Manchester, England –
Sheikh Jassim bin Hamad Al Thani has stepped up his attempt to buy Manchester United by announcing his intention to make a second bid for the iconic football team.
The chairman of Qatar Islamic Bank said he wants the club to return to the top of the sport if it succeeds in acquiring the current owners, the Glaser family.
Both Sheikh Jassim and British billionaire Jim Ratcliffe submitted suggestive offers last month.
The latest bid for Sheikh Jassim’s unconfirmed amount is to American merchant bank Raine, which is processing a potential sale.
A person familiar with the process confirmed that Raine had been informed of Sheikh Jassim’s plans to submit a new bid. She spoke on condition of anonymity because she is not authorized to comment publicly.
United are expected to be the most expensive sports team in history, with prices estimated to reach up to $6 billion.
Sheikh Jassim and Ratcliffe are the only contenders to publicly declare their intentions to win the 20-time English league champions.
Sheikh Jassim, the son of the former Qatari prime minister, sent a delegation to Manchester last week to meet with United executives ahead of his latest offer.
Ratcliffe, owner of petrochemical giant INEOS, also met with United last week.
Sheikh Jassim is said to be confident in his bid to buy 100% of the club and will invest in stadiums, training grounds and playing teams.
Ratcliffe added he is focused on winning the Champions League for the first time since 2008, and said he intends to take a “fan-centric” approach to ownership.
Last year, Raine sold Chelsea to Todd Boehly and Clearlake Capital for around $3 billion. The Denver Broncos were sold to Walmart heir Rob Walton and his daughter and son-in-law last year for his $4.65 billion.
The Glazers announced in November that they were exploring “strategic options”. Is possible.