The Glazers Family Receives Final Bids For Manchester United Takeover
On Friday night, Sheikh Jassim bin Hamad Al Thani submitted a final offer of more than £5 billion for Manchester United, promising a sizable amount of additional investment for players and infrastructure.
The Glazers and all other shareholders would be purchased out by Sheikh Jassim, who wants a 100% ownership stake in the team.
According to sources with knowledge of the process, the offer is an improvement over his earlier offer, but he won’t pay anywhere close to £6 billion and is determined not to unduly overpay.
Sir Jim Ratcliffe, a British billionaire, also submitted his bid, which aims for a controlling position of more than 50%, but his proposal contains a clause that would let Joel and Avram Glazer, two of the company’s founders, keep their 20% stake.
Large segments of United’s fan base, who have pushed for the Glazers to leave Old Trafford since their leveraged buyout in 2005 plunged the club into massive debt, would not be happy with Ratcliffe’s potential deal.
It is unclear whether the Glazers family will accept any bid from the two, having valued the club at almost £6 billion.
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