Qatari investor Sheikh Jassim has closed in on emerging as the new owner of Manchester United, MySportDab reports.
Manchester United storied takeover process may finally come to an end soon with the Glazers set to take a decision on who to sell the club to.
Manchester United takeover has been dragging with the Glazers holding on for their £6bn valuation despite multiple round of offers from bidders.
Sir Jim Ratcliffe and Sheikh Jassim were the two contenders to take over Manchester United.
Jim Ratcliffe paraded an unpopular offer of allowing the Glazers maintained a 20% ownership of the club that will be subsequently bought out in the future.
Sheikh Jassim wanted a full takeover of the club with the Glazers handing off their ownership of the club totally.
We understand the two frontline bidders submitted bids in excess of £5bn but did not meet the Glazers £6bn valuation of the club.
In the last hours of the takeover, Sheikh Jassim submitted a final bid of £6bn that met the valuation of the American owners.
Before Sheikh Jassim’s fifth £6bn fifth bid, there were reports the Glazers were more likely to sell Manchester United to Sir Jim Ratcliffe.
Now, it has been confirmed the UK billionaire and owner of Ineos has been overtaken by Sheikh Jassim in the takeover race.
The Asian investor reportedly met with the Glazers and Raine Group to discuss Sheikh Jassim’s offer and his influence will definitely have bearing on Sheikh Jassim’s chances.
Premier League clubs are reportedly freaked out by the amount of money offered by Sheikh Jassim and are pressing for investigations into the source of the funds.
Sheikh Jassim’s offer has been a popular offer as it includes writing off all debts, investment on infrastructure, money for transfer, and total ownership of the club.