Prior to Friday at 10 p.m., Sheikh Jassim made a record-breaking offer of more than £5 billion to purchase Manchester United, while INEOS also made a majority ownership offer. Minutes before the deadline of 10 p.m., set by the current Glazer family after the conclusion of the third bidding phase, the head of Qatar Islamic Bank submitted his final proposal for the club, followed quickly by another front-runner, Sir Jim Ratcliffe, proprietor of INEOS.
Sheikh Jassim’s proposal would surpass the pending £4.8 billion purchase of the NFL team Washington Commanders by at least £200 million, although it would still fall below the Glazers’ estimated £6 billion value of the club.
In addition to strengthening Erik Ten Hag’s team, it would also guarantee the development of the club’s surrounding infrastructure, including the stadium and training facility at Old Trafford as well as the neighbourhood.
The Elliott investment fund’s anticipated offer for a minority share in the team, along with any other late-day offers still pending, have not been confirmed. Ratcliffe’s offer would only acquire slightly more than 50% of United’s shares, giving the Glazers still a minority stake of about 20% and still having some sway over decisions at Old Trafford.
Large segments of United’s fan base, who have pushed for the Glazers to leave Old Trafford since their leveraged buyout in 2005 threw the club into massive debt, would not be happy with Ratcliffe’s potential deal. The conclusion of the last round of bids will end the five-month ordeal that has been going on since the Glazers initially said they were thinking about selling United around November 2022.
Pundits and experts give their view on the takeover
Sky Sports pundits spoke about the bid for the club and how it can be one of the best decisions for the fans, the team, the manager and the current owners. Sky Sports News chief reporter Kaveh Solhekol said that “They think there’s not one that comes close to this. It’s for 100 per cent of the club, it’s debt free, and money will be made available not just to Erik Ten Hag but also for improving the infrastructure around the club; doing the kind of thing Man City have done in Manchester. They believe this is the best bid, the final bid they’re going to make – now it’s up to the Glazers. Are they really serious about selling Man Utd with a world-record bid on the table? It’s not just exceptional for them and will see them make an awful lot of profit, but the Qataris believe it’s also the best offer for the sake of the club.
