Manchester United, one of the world’s most valuable and storied football clubs, could be the subject of a new takeover bid by Sheikh Jassim bin Hamad al-Thani, a member of the Qatari royal family.
Sheikh Jassim Bin Hamad Al Thani, who visited Manchester United on Thursday, plans to make a second bid for the club within a period of 10 days.
He made an indicative offer before the soft deadline a month ago; all bidders will be required to submit a second bid within the next 10 days.
Sources in New York told Sky Sports News that “there should be no doubt” that Sheikh Jassim wants to be the owner and caretaker of United.
A Qatari group arrived in Manchester by train from London and was greeted warmly. The talks were believed to have been positive and constructive for 10 hours, which was far longer than planned.
Sheikh Jassim’s intention on Man United takeover & development
Sheikh Jassim and members of his staff had previously visited Old Trafford as fans, and the purpose of this visit was to gain insight into what they might accomplish with their capital investment in infrastructure, youth development, and the women’s squad.
They have been attempting to gain a better understanding before making another bid. If the club is sold, United will certainly be “selling the dream” in order to earn the highest possible price.
It’s too early for Sheikh Jassim to go in person, and he doesn’t want to go only for a snap.
The second proposal is now anticipated next week, and it will outbid the initial £4.5 billion offer made last month.
British billionaire Ratcliffe, the founder of the INEOS business, has made an offer of that amount, and he was reportedly spotted at Old Trafford, making the long journey to Manchester from the south of France after watching his owned-club, OGC Nice, play in the European Conference League against Sheriff Tiraspol on Thursday night.
On Friday, a video showed Ratcliffe arriving at Old Trafford ahead of the fresh round of discussions with Manchester United, with the INEOS founder entering the stadium at breakfast time.
Raine Group, the US merchant bankers coordinating the club’s sale on behalf of the Glazer family, is aiming for a bidding battle to drive up the price while the family continues to explore various options for a full or partial sale.