Qatar investor, Shiekh Jassim, has submitted a new takeover bid for Manchester United with an ultimatum for a final round of talks on Friday, MySportDab reports.
Manchester United’s takeover has been dragging since the Glazers announce their decision to sell the club in November, 2022.
UK Billionaire and Ineos owner, Sir Jim Ratcliffe and Qatari investor, Sheikh Jassim Bin Hamad Al-Thani have been the two frontrunners to take over the club.
The two bidders have submitted a series of bids for the takeover process with the Glazers yet to respond.
Sheikh Jassim Bin Hamad Al-Thani wants a total takeover of Manchester United while Sir Jim Ratcliffe wants a partial ownership but with a majority share at the club.
There have been reports, Sir Jim Ratcliffe is a clear favorite to take over Manchester United despite presenting an unpopular offer that will see the Glazers retain some level of ownership at the club.
Manchester United fans want a full takeover of the club to end the Glazers’ 18 years reign.
Sheikh Jassim Bin Hamad Al-Thani has a popular offer but was playing second fiddle to Jim Ratcliffe in the takeover process due to his lesser offer compared to Ratcliffe’s.
Now, according to Daily Mail, the Qatari investor has submitted a fresh new bid to increase his chances of winning the bidding war with Sir Jim Ratcliffe.
The latest bid is the fifth bid that has been tabled by Sheikh Jassim Bin Hamad Al-Thani since the Glazers started calling for takeover offers for the club.
The report by Daily Mail adds Sheikh Jassim’s latest offer is tabled directly to the Glazers and Raine Group, who are overseeing the takeover process.
The new bid has a slightly bigger sum committed to infrastrutural development.
The full takeover clause is not altered and more money has been committed for recruitment.
The Glazers are yet to take a decision the new bid but there are reports they may be forced to part ways with the club with the improved offer from the Shiekh Jassim.
Meanwhile, Sheikh Jassim has reportedly set this Friday as deadline to engage in takeover talks with the Glazers as per his new bid.