The Qatari billionaire has made another offer to steer clear of the competition for the ownership of Manchester United.
Sheikh Jassim bin Hamad al-Thani is back with an even better offer to buy Manchester United for a whopping £5.5 billion. The offer includes wiping out the club’s £1 billion debt and setting up an exclusive fund for the club and its surrounding community.
It’s the fourth bid from Sheikh Jassim. The Qatari banker wants 100% control of United and last offered almost £5 billion. His rival is Sir Jim Ratcliffe. The INEOS founder made a bid over two weeks ago for a stake of just over 50%. This would leave current majority owners, Avram and Joel Glazer, with a 20% stake.
But Sheikh Jassim is not messing around. He’s so determined to take over United that he has raised his bid by a whopping £500 million, according to The Guardian. His family originally valued the Premier League club at £6 billion.
The report states that Sheikh Jassim is even committed to clearing United’s debts and setting up a special fund for the community around the club.
ESPN added that the Raine Group, which is orchestrating the sale of United, has other offers on the table for a minority stake from US companies such as Elliott Management and Sixth Street.
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