Man United Receives Latest Qatari Bid

Qatari banker Sheikh Jassim bin Hamad Al Thani has submitted an improved offer to buy Manchester United.

According to BBC Sport, the fresh bid, which is thought to be Sheikh Jassim’s fourth offer, was submitted on Tuesday morning. This followed talks with the US capital market company that is handling the sale, The Raine Group.

Sheikh Jassim, who is the chairman of Qatar Islamic Bank, only faces one major rival in the race to buy the Premier League club – Sir Jim Ratcliffe and his Ineos Group. Reports had been suggesting that Ratcliffe was looking most likely to secure preferred bidder status, but the latest offer from Qatar proves that decisions are yet to be finalised.

Both parties submitted bids in a third round of offers in April.

It is understood the new bid from Qatar is for 100% of the club, will clear United’s debt and includes a separate fund directed solely at the club and local community. This is also likely to include development of Old Trafford and the club’s Carrington training ground.

Any potential buyer securing 100% is crucial to the supporter base, who have expressed their desire for the current owners, the Glazer family, to leave the club via several protests.

There had been reports that there could be the option of an investment deal that keeps the Glazers involved in the club. But it seems more likely Ratcliffe would be the buyer favouring that route.

It is understood that one of Ratcliffe’s suggestions has been to lower the amount of United he wanted to buy from an initial 69% for all the Glazer stake to just over 50%, which would allow co-chairmen Joel and Avram Glazer to retain shares in United.

Figures in March showed United owed £969.6m through a combination of gross debt, bank borrowings and outstanding transfer fees with associated payments.

With the sale process already lasting six months, it still remains unclear when the Glazer will make the final decision on the sale.

The summer transfer window is on the horizon and a quick closure of the sale will be crucial for the club’s summer transfer plans.