Qatari billionaire Sheikh Jassim submits a world record £5 billion bid to take over Manchester United, promising a debt-free future and additional funding for the club.
Qatari billionaire Sheikh Jassim submits a world record £5 billion bid to take over Manchester United, promising a debt-free future and additional funding for the club.
The Glazer family, who have faced ongoing protests from fans due to their financial approach, must now decide whether to accept the offer or continue their ownership.
Competing bidder Sir Jim Ratcliffe also submitted an offer, proposing that the Glazers maintain a minority share in the club.
Qatari billionaire Sheikh Jassim has reportedly made a world record bid to take over Manchester United, as the third round of bidding has concluded.
According to Sky Sports, the 63-year-old has made a bid of £5 billion in order to take complete control of the club from the Glazer family.
“The bid went in very close to the deadline, worth just over £5bn,” chief reporter Kaveh Solhekol told Sky Sports News.
The Final Offer: A Debt-Free Future for Manchester United
Significantly, Sheikh Jassim’s bid not only offers the Glazers a massive financial gain, but also promises additional funding to strengthen the squad, improve infrastructure, and invest in the local community. This debt-free bid could be a game-changer for Manchester United, allowing them to follow in the footsteps of local rivals Manchester City.
A History of Protests Against the Glazers
The Glazer family, who have been in charge of Manchester United since 2005, have faced numerous protests from fans throughout their tenure. These protests stem from the fact that the Glazers bought the club with hundreds of millions of pounds worth of debt, which they then saddled onto the 13-time Premier League winners. While the club has spent money on transfers, this has been funded by club earnings, not the Glazers’ personal investment. In contrast, the Glazers have taken money out of the club through dividends, while interest on their loans has only grown.
Infrastructure in Need of Investment
Old Trafford and the Carrington training ground have been left to fall behind the times, with infrastructure in desperate need of investment. Sheikh Jassim’s bid could potentially address this issue, providing the necessary funds to bring these facilities up to modern standards.
Competing Bids and the Future of Manchester United
The bidding process for Manchester United has been complicated by the fact that two of the Glazer family members, Avram and Joel, have reportedly wanted to keep a stake in the club. This has led to three rounds of bidding and prolonged negotiations, amid rumors that they would prefer minority investors to buy part of the club.
Friday’s deadline reportedly didn’t cover the potential of those investors and was only for Sheikh Jassim and Sir Jim Ratcliffe, the other outright bidder. Ratcliffe, the Nice owner and childhood Manchester United season ticket holder, is said to have offered the Glazers the chance to maintain a minority share with his bid.
With Sheikh Jassim’s record-breaking bid on the table, the future of Manchester United now lies in the hands of the Glazer family. Will they accept this offer and usher in a new era for the club, or will they continue to hold onto their stake in the team?
Stay tuned to MandyNews.com for all the latest updates on this developing story.
