admin Sheikh Jassim bin Hamad Al-Thani has submitted an improved fifth final bid of £6bn to buy Manchester United this week, but it will not be accepted.
Sheikh Jassim and his advisers are frustrated with the Glazer family’s lengthy process to launch the club in November. This has led him to conclude that Friday is the deadline for further negotiations, according to the Guardian, and that he will resign if the offer is not accepted. Sources close to Sheikh Jassim describe it as “crunch time.”
Sheikh Jassim also recognizes that if he wants to become an owner, he should offer Erik ten Haag the best time to strengthen his team in the transfer market as soon as possible.
Given the long-term nature of this process, including the extended deadline, it is unclear whether Sheikh Jassim’s interest will be terminated if his self-imposed Friday deadline is not met. As with previous offers, the latest offer is for 100% of the club.
One possibility is that he fears losing out to Sir Jim Ratcliffe, the sole bidder who has said he wants to take control of United. As such, the proposed improvement is a last-ditch attempt to gain ownership.
Ineos owner Ratcliffe wants to take about 51% of United’s shares and retain one or more minority stakes in the Glazer family. Ineos is reportedly in discussions with the Glazers over the structure of such a deal, but it is understood that the company does not believe a deal is imminent.
Sheikh can pay off around £1bn of debt and, in cash, provides separate funding for players, infrastructure and other investment needs, and a higher value per share means his proposal is better. I believe it is an option.
