Qatar’s Skeikh Jassim refuses to improve $6 billion Manchester United bid, sources say
Qatar’s Sheikh Jassim bin Hamad al Thani has decided not to increase his bid to acquire Manchester United, leaving Ineos chairman Jim Ratcliffe in a stronger position to strike a deal, according to sources familiar with the matter. Sheikh Jassim had initially offered over $6 billion to purchase the iconic soccer club and had pledged an additional $1.7 billion investment after the acquisition. However, after nine months of unsuccessful negotiations, he has informed the Glazer family, who control Manchester United, that he sees no point in continuing the bidding process.
While Sheikh Jassim’s withdrawal may come as a surprise, it opens up new possibilities for Jim Ratcliffe, who has offered to purchase a 25% stake in the club. This proposal would allow some of the Glazers to cash out, although it remains uncertain whether an agreement will be reached. Ratcliffe’s bid, while smaller in scale, could potentially provide a fresh perspective and inject new energy into the club.
It is worth noting that Sheikh Jassim’s bid would have been debt-free, and he intended to pay down Manchester United’s existing debt. This approach would have undoubtedly alleviated financial burdens and allowed the club to focus on its future growth and success.
Both Sheikh Jassim and Jim Ratcliffe’s interest in acquiring Manchester United highlights the club’s enduring appeal and global stature. The Glazer family, who have controlled the club for years, now have an opportunity to carefully consider their options and choose a partner who aligns with their vision for the future.
While the bidding process continues, Manchester United remains an iconic institution in the world of soccer. The club’s rich history, passionate fanbase, and global reach make it an attractive asset for potential investors. As negotiations progress, fans and stakeholders eagerly await news of a potential deal that could shape the future of the beloved club.
Representatives for Sheikh Jassim declined to comment on the matter, while Manchester United has yet to respond to requests for comment. The outcome of these discussions will undoubtedly have a significant impact on the future direction of the club, and all parties involved are urged to approach the negotiations with the best interests of Manchester United and its loyal supporters in mind.