Qatari billionaire submits huge ‘final’ offer for Manchester United

Qatari billionaire Sheikh Jassim Bin Hamad Al Thani has submitted a huge ‘final’ offer to buy Manchester United Football Club.

Sheikh Jassim has made an enormous eleventh hour take it or leave it offer to buy the club in the hopes of ruling out competition from rival Sir Jim Ratcliffe.

The billionaire made an improved bid in an attempt to end the lengthy bidding process for the club, having already been through three rounds, and seal a deal for the Premier League club, putting an end to the ongoing saga.

A deadline for final offers was set last month. Ratcliffe may not have the spending power of the Qataris, but his best offer for the club valued higher than his rival’s — though his bid was not for 100% of the club’s shares.

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

That prospect was seen as desirable to the brothers, who are thought to be keen on staying in some capacity at Old Trafford ahead of finally cashing out.

It was hoped that a preferred bidder would be chosen last week, with the opening of the transfer window fast approaching, and United’s squad in need of strengthening. 

But talks have been ongoing and yesterday (May 16th), Sheikh Jassim made a further move in a last-ditch attempt to gain control of the club. 

The appeal of the Qatari bid is that it is for complete control of Manchester United and an immediate payment of the fee, instantly wiping out the club’s debt.

There is also a promise from Sheikh Jassim that there will be meaningful investment in the playing squad and in either improving or rebuilding Old Trafford.

The bidding process might not be over yet as Ratcliffe, who’s been a Manchester United fan his whole life, could return with a new offer in reaction to the latest Qatari move.