According to reports from talkSPORT, Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani have made it through to the next round of bidding for Manchester United. Both Ratcliffe and Sheikh Jassim will now undergo a period of due diligence with the Raine Group, who are representing the Glazer family in the sale of the club.
Sheikh Jassim is the chairman of Qatar Investment Bank and claims to be a lifelong fan of Manchester United. His bid, reportedly worth £4.5 billion, is for a 100% takeover of the club and would be completely debt-free. Meanwhile, Ratcliffe has stated that he and his company INEOS see themselves as “the long-term custodians” of Manchester United.
However, neither group’s initial offer met the £6 billion asking price for the Old Trafford giants. The Glazers are also considering proposals to sell a percentage of their shareholding in United. The Raine Group set a soft deadline for bids for February 17, and both Ratcliffe and Sheikh Jassim went public with their bids late that evening.
Since the bids were lodged, reports have emerged that the Glazer family are split on selling the club. Manchester United is now competitive once again under the guidance of manager Erik ten Hag.
Sir Jim Ratcliffe is a British billionaire and also a United fan. His bid is thought to be worth £4 billion, falling short of the Glazer’s asking price. Sheikh Jassim, on the other hand, is the son of Hamad Bin-Jaber al-Thani, who served as Qatar’s foreign minister and prime minister throughout the 1990s and 2000s.
Manchester United is one of the most valuable football clubs in the world, with a global fanbase and a rich history of success. The club has won numerous domestic and international titles, including 20 English league titles, three European Cups, and one FIFA Club World Cup.
The Glazer family purchased Manchester United in 2005 in a controversial leveraged buyout that saddled the club with significant debt. The family has been criticized by some fans for prioritizing profits over on-field success, leading to a decline in the team’s performance in recent years.
The potential sale of Manchester United has generated significant interest from investors around the world. However, any new owner will face significant challenges in restoring the club to its former glory. The team has struggled to compete with rivals Manchester City and Liverpool in recent years, and there are concerns about the aging squad and lack of investment in new players.
Despite these challenges, Manchester United remains one of the most valuable sports franchises in the world, with a brand that is recognized around the globe. The club’s fans will be watching closely as the bidding process continues, hoping that any new owner will prioritize on-field success and restore Manchester United to its former glory.