Sheikh Jassim Makes 5th Bid For Manchester United

Sheikh Jassim bin Hamad Al Thani reportedly made a fifth offer to purchase Manchester United earlier this week.

After this Friday, Sheikh Jassim won’t bid to buy Manchester United which means this is his last attempt to grab the Old Trafford club, according to the BBC.

Sheikh Jassim’s offer includes a 100% takeover of Manchester United, paying off United’s debt in full, and a special fund for the club and the community.

The Ineos Group, headed by Sir Jim Ratcliffe, is the other significant bidder for the Premier League club.

As of March, United owed a total of £969.6 million in debt, which consisted of gross debt, bank borrowings, past-due transfer fees, and other liabilities.

Owners of Manchester United, the Glazer family, announced in November that they were “exploring strategic alternatives,” including the possibility of selling the Premier League franchise.

Even though the Glazer family has not responded since the previous bid deadline on April 28, there was growing optimism in the Ineos camp in May on a positive outcome of their efforts to acquire United.

According to reports, one of Ratcliffe’s ideas was to own 50 percent of the club’s shares and allow the club’s current owners and co-chairmen Joel and Avram Glazer to keep their spots as club executives.

They acquired the club for £790 million in 2005, and currently, the Glazer family estimates the club’s worth to be between £5 billion and £6 billion.