Sheikh Jassim has submitted an improved fifth and final bid for Manchester United and wants an answer from the English soccer giants by 9th June.
United announced in November that the board was exploring strategic alternatives to enhance the club’s growth, with a full sale one option being considered. Current owners, the Glazer family, are said to value the Premier League club at UK£6 billion (US$7.48 billion) and the Raine Group was brought in to oversee the process.
Sir Jim Ratcliffe and Sheikh Jassim both publicly confirmed initial offers after the 17th February soft deadline for expressions of interest, then another by the second deadline of 22nd March. That was eventually extended by a few days and Raine asked interested parties for their third and final bids on 28th April.
Talk has increased over the subsequent 40 days that Ratcliffe and Ineos have emerged as favourites to take over at United, despite Sheikh Jassim placing a fourth bid last month.
Now the Qataris have now lodged a fifth and final bid, along with sending a warning that patience is wearing thin. The fifth offer remains for 100 per cent of the club and Sheikh Jassim’s bid team have set the 9th June deadline to make headway in discussions.
While Sheikh Jassim’s offer is understood to remain after that point, the end of the week would mark the end of their ongoing engagement in the process.
This is a crunch period on and off the field for United, who won the Carabao Cup, finished third in the Premier League and lost FA Cup final in Erik ten Hag’s first season in charge. Co-owner Avram Glazer was at Wembley for the 2-1 defeat to Manchester City and ignored questions about the takeover as he left through the interview area.