Sheikh Jassim to submit latest bid for Manchester United
Sheikh Jassim bin Hamad Al Thani has stepped up his attempt to buy Manchester United by stating his intention to make a second bid for the iconic soccer team
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Sheikh Jassim bin Hamad Al Thani has stepped up his attempt to buy Manchester United by stating his intention to make a second bid for the iconic soccer team.
The chairman of Qatar Islamic Bank has said he wants to return the club to the summit of the sport if he is successful in buying out current owners the Glazer family.
Both Sheikh Jassim and British billionaire Jim Ratcliffe submitted indicative offers last month.
Sheikh Jassim's latest bid for an unconfirmed amount will be made to American merchant bank Raine, which is handling the potential sale.
A person with knowledge of the process confirmed Raine had been informed of Sheikh Jassim's plans to submit a fresh bid. The person spoke on the condition of anonymity because they were not authorized to comment publicly.
United is expected to become the the most expensive sports team in history, with the price estimated to reach up to $6 billion.
Sheikh Jassim and Ratcliffe are the only contenders to have publicly declared their intention to buy the 20-time English league champions.
Sheikh Jassim, the son of a former Qatari prime minister, sent a delegation to Manchester last week to meet with United executives ahead of his latest offer.
Ratcliffe, owner of petrochemicals giant INEOS, also held meetings with United last week.
Sheikh Jassim is said to be confident in his bid to buy 100 percent of the club and plans to invest in the stadium, training ground and playing squads.
Ratcliffe has spoken of his intention to take a “fan centered” approach to ownership, adding that he is focused on the winning the Champions League for the first time since 2008.
Last year, Raine handled the sale of Chelsea to Todd Boehly and Clearlake Capital for about $3 billion. The Denver Broncos were also sold last year to Walmart heir Rob Walton and his daughter and son-in-law for a record $4.65 billion.
The Glazers announced in November that they were exploring “strategic alternatives." It is not certain they will cede total control of the club they have owned since 2005, with minority investment also a possibility.
___
James Robson is at https://twitter.com/jamesalanrobson
___
More AP soccer: https://apnews.com/hub/soccer and https://twitter.com/AP_Sports