Doha: In a bidding war, Qatari banker Sheikh Jassim bin Hamad Al-Thani, son of Qatar’s former prime minister and British billionaire Jim Ratcliffe made their third and final bid to buy Manchester United Football Club on Friday.
The deadline for submitting bids ended at 10 pm GMT on Friday for the Glazer family which owns the club. Both parties are keen to complete the takeover deal that was floated last year.
As per a report by Reuters, Sheikh Jassim has a world-record bid of 6.2 billion dollars to take over Manchester United (MU). He has promised significant additional funding for transfers and infrastructure.
Ratcliffe’s improved bid is yet to be made public. He is willing to take a 50% stake in MU. But Jassim’s attempt is to own the football club completely.
Glazers announced in November the board had “authorised a thorough evaluation of strategic alternatives”, including selling the club.
Investment bank the Raine Group was brought in to oversee the process after it handled the sale of Premier League rivals Chelsea.
After a deadline for expressions of interest in February and a second deadline last month marked a third deadline for bids.
According to AFP, the Glazers reportedly want a world record 6 billion British pound fee for the sporting club before they agree to sell the Old Trafford outfit, raising the possibility that neither Sheikh Jassim nor Ratcliffe’s offer will be accepted.
