Sheikh Jassim bin Hamad bin Khalifa Al Thani, a billionaire from Qatar, has increased his offer for Manchester United by submitting a fourth and final proposal that is understood to be closer to £5 billion.
The businessman has made a late intervention after the lifelong United fan, and petrochemicals billionaire, Sir Jim Ratcliffe had submitted his third bid which valued Manchester United at a higher figure.
Meanwhile, as with all of Sheikh Jassim’s prior proposals, he is attempting to acquire 100 percent ownership of the club, in which the Glazer family currently holds a majority stake.
The Qatari also promised to pay off United’s £536m debt. Furthermore, he’d establish a separate fund for the club and its surrounding community.
Sheikh Jassim has now made another increased bid — as always, it’s for 100% of Manchester United, will clear all debt and includes a separate fund directed solely at the club and community. 🚨🔴🇶🇦 #MUFC
Sources guarantee this is significant increase over the initial proposal. pic.twitter.com/xLaNiPCBp8
— Fabrizio Romano (@FabrizioRomano) May 16, 2023
However, the most recent offer from Ratcliffe permitted Joel and Avram Glazer, two of the six brothers whose father, Malcolm, purchased the club in 2005, to keep a share while seeking a complete takeover in the coming years.
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The American merchant bank the Raine Group are overseeing the process for the Glazers.
There have been three previous rounds of bids, without seeming to meet the Glazers’ valuation, though Ratcliffe had emerged as the favourite to complete a deal.
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