The main bidders for the takeover of Manchester United, Qatar banker Sheikh Jassim bin Hamad Al Thani and the Ineos Group led by British billionaire Sir Jim Ratcliffe have reportedly submitted their final bids to take over the club from the Glazer family.
The Glazers have owned Manchester United for close to two decades. In that time, the club has recorded some major financial and sporting successes but at the same time, they have suffered the worst infrastructural collapse ever witnessed by the club in its history.
That collapse has led to a 10-year Premier League trophy drought which has demystified the club that is still British football’s most successful. Their rich history and financial milestones in that time, as well as their stature in European and world football have kept them going.
This, however, has not pleased the very proud fanbase of the club that numbers over 500 million worldwide.
Calls for the Glazers to let go of the club in order to return it back to winning ways have intensified in the last five years.
Matchday protests and media discussions have taken place on numerous occasions. Many fans still display banners disparaging the billionaire family at games and this has finally forced their hand.
The club has been put up for sale and interested parties have submitted varying bids to take the club off of the Glazers.
Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe’s Ineos Group are the leading parties in the bidding war which has dragged on for months as the Glazers are yet to decide on a satisfactory bid.
Sheikh Jassim’s latest bid is said to be around £5 billion with an additional fee that will go directly to the Glazers while Ineos Group, led by Sir Ratcliffe, is said to have submitted a bid in that range although the exact figures have not been made public.
Ratcliffe is also believed to be interested in a controlling stake, a move that is being criticised by the 1958 fan group who want a full sale only.
Both parties are eager for a conclusion to the saga that began in November 2022 to be reached, with the new season approaching. It has also been reported that the bids will be assessed in the coming week.
It is understood that the latest bids to buy the club were only open to parties who want to buy the whole club or a major controlling stake in it, rather than minor stakes or certain investment vehicles.
