Qatar’s Sheikh Jassim and Sir Jim Ratcliffe’s INEOS previously submitted their third and final bids to buy Man Utd on April 28; Sheikh Jassim’s renewed offer would clear almost £1bn worth of debt at Man Utd and distribute ring-fenced funds for the club and community
Sheikh Jassim’s renewed offer, believed to be close to £5bn but shy of the Glazer family’s £6bn valuation, was submitted to the Raine Group, the New York-based investment bank overseeing the sale of the club, on Tuesday morning.
The third and final round of bidding concluded on April 28 but, with reports last week claiming a revised offer from Sir Jim Ratcliffe and INEOS had put them in pole position to acquire United, Sheikh Jassim has moved again.
Sheikh Jassim believes his bid is a very competitive one which brings huge benefits to Manchester United, including clearing nearly £1bn worth of club debt and a separate fund to redevelop Old Trafford, the surrounding area and the club’s Carrington training ground.
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