Sheikh Jassim Bin Hamad Al Thani from Qatar submitted a fresh bid to purchase Manchester United Football Club. Despite the initial deadline for bids being on Wednesday, Sheikh Jassim’s representatives were given an extension and have now submitted an improved bid, which is both competitive and sensible. The offer is reportedly worth approximately $6.12B.
In addition to Sheikh Jassim’s bid, Sir Jim Ratcliffe and INEOS submitted a revised bid on Thursday, and Thomas Zilliacus also increased his offer through his holding company XXI Century Capital. “My bid is built on equality with the fans,” Zilliacus said in a statement.
The drawn-out sale of the club is thought to be taking so long as the incumbent Glazer family value the club at around $7.5B and no offers to match this have yet been received.
Qatar’s original bid has been reported to be in the region of $6B. British billionaire and fan of the club Jim Ratcliffe is also in the running to buy the once-great English Premier League side.
A statement from Manchester United Football Club in November said: “Manchester United plc, one of the most successful and historic sports clubs in the world, announces that the Company’s Board of Directors (the “Board”) is commencing a process to explore strategic alternatives for the club”.
“The process is designed to enhance the club’s future growth, with the ultimate goal of positioning the club to capitalise on opportunities both on the pitch and commercially”.
“As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company”.
“This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global scale, each in the context of enhancing the long-term success of the club’s men’s, women’s and academy teams, and bringing benefits to fans and other stakeholders”.
