A heated battle between Sheikh Jassim and Ratcliffe for the purchase of Manchester United
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The battle to acquire Manchester United has intensified, as Qatari banker Sheikh Jassim bin Hamad bin Jassim bin Jabr Al Thani and British billionaire Jim Ratcliffe are preparing to raise their bids to buy the 20-time English Premier League champion.
And the “BBC” network reported that the two parties are preparing to raise the two initial offers that they previously submitted, after the deadline set at nine o’clock GMT on Wednesday was extended by the American investment bank “Rain”, which is helping in the process of selling the club, after confusion about a date. maximum lead time.
The “Sky Sports” network also reported that Sheikh Jassim and Ratcliffe had obtained an extension in order to present their new shows, while the “BBC” indicated that the new deadline was not clarified.
In mid-February, Sheikh Jassim, the son of the former Qatari Prime Minister Hamad bin Jassim, made a preliminary offer to acquire the “Red Devils”, similar to the “Ineos” petrochemical group headed by its billionaire owner Ratcliffe.
Several English media reported on Wednesday that the two new offers may exceed 5.7 billion euros, which means that if one of them is approved, it will be the largest deal to buy any club in the world in a team game.
A source close to Sheikh Jassim revealed to AFP on Wednesday that the Chairman of the Board of Directors of Qatar Islamic Bank was “confident” that he had submitted “the best offer to the club, to its supporters and the local community.”
He concluded, “The next stages are related to the seller, and we do not expect a quick answer.”
None of the first two bids reached the threshold of six billion pounds ($7.2 billion) set by the American Glazer family, which has owned the club since 2005, and whose popularity with fans has increasingly declined after the team missed Premier League titles since 2013 and has not won any title since 2017. Before he recently succeeded in breaking his fast by winning the League Cup title.
Sheikh Jassim previously revealed that the offer made by him “plans to restore the club to its former glories on and off the field and, above all, will seek to put the fans at the heart of Manchester United Football Club once again.”
The statement stressed that the offer will be completely debt-free through the Sheikh Jassim Foundation, which will look to invest in the football teams, training center, stadium, wider infrastructure, fan experience and the communities the club supports.
For his part, Ratcliffe (70 years) wishes himself to take possession of a team he has encouraged since childhood.
Born in Failsworth, Greater Manchester, Ratcliffe is considered one of the richest Britons, with an estimated net worth of $15 billion, following the success of his global chemical company.
Ratcliffe had made a failed attempt to acquire the local rival, Chelsea, whose sale was also supervised by Ryan Bank and sold for $4.5 billion to a consortium led by American Todd Boyle.