Sheikh Jassim’s £5 billion bid remains on the table, but there are concerns that the Glazer family would not sell.
Sheikh Jassim has made five bids for Manchester United, with his final offer to buy 100% of the club in a debt-free agreement on June 7; insiders close to the Qatari bid say the process has halted due to worries from the Glazer family that they do not want to sell.
The Qatari Sheikh still wants to buy Manchester United, and his £5 billion bid is still on the table.
However, insiders close to the Qatari bid believe the process has halted because the Glazer family is unsure whether they want to sell.
Sheikh Jassim has made five bids to purchase Manchester United, with his final offer to buy 100% of the club in a debt-free deal made 11 weeks ago on June 7.
In a phased takeover, British billionaire Jim Ratcliffe has launched competing bids to buy 69% of the club held by the Glazer family.
Sheikh Jassim’s bid team is aware of claims that he is close to purchasing Manchester United, but the situation has not changed in his opinion.
Sheikh Jassim is not leaving, but it is ultimately up to the Glazers to determine whether or not to sell the club.
The longer the process takes, the more money the bidders have to pay bankers, advisors, and lawyers. However, if the Glazers decide to sell, the bidders are prepared to move quickly.
In terms of transfers, the Qatari offer has never identified any targets or discussed potential signings because their main focus has been on purchasing United.
However, if United had been sold, the window would have been different, and it still could be in the future.
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Sheikh Jassim remains adamant about paying off United’s debts and investing in infrastructure, men’s and women’s teams, and the academy.
The Glazers stated in November of last year that they were thinking about selling the club.
United indicated in a statement that its owners will consider new investment possibilities such as “a sale or other transactions involving the company.”
The Glazers purchased United in a contentious £790 million leveraged buyout in 2005, borrowing more than £500 million and piling their debt onto the club.
United has spent more than £1 billion servicing that debt. However, the club’s latest accounts show a debt of £725 million.
In February, Sir Jim and Sheikh Jassim publicly acknowledged first proposals.
The third and final round of bidding ended on April 28, but Sheikh Jassim moved again after rumours that a new offer from Ratcliffe and INEOS had put them in pole position to acquire United.
INEOS values United higher. However, their bid does not buy the entire club and allows the Glazers to retain a 20% stake.
