Manchester United takeover: Has Brit billionaire Sir Jim Ratcliffe outbid Qatar's Sheikh Jassim?
By Ayush Gupta | First Published Apr 30, 2023, 2:11 PM ISTAfter the final deadline, Manchester United's takeover might have taken a shocking twist. Reports suggest that Sir Jim Ratcliffe has outbid Sheikh Jassim bin Hamad bin Al Thani. Here's how.
English giants Manchester United has been put on the market for sale since November by the Glazers. After the opening couple of bidding rounds, the final bidding deadline passed on Friday. Meanwhile, as the bids are being evaluated, reports have suggested that the takeover race has taken a shocking twist.
Overall, a couple of owners were the frontrunners in the race: British billionaire Sir Jim Ratcliffe and Qatar banker Sheikh Jassim bin Hamad bin Al Thani. While the former has been looking to own the stake held by the Glazers, the latter had bid for a complete takeover and was labelled the most valuable offer.
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However, as per The Times, there has been a twist in the scenario, as Ratcliffe's valuation has been dubbed more than Sheikh Jassim's. Although the Brit has offered to own only 69% of the club's stake, his offer includes the option of the two Glazer brothers to stay, while his proposal for the said stake values the club more than £5 billion.
As for the Qatari, his bid is just over £5 billion, promising to make the club debt-free and make additional investments into the club's infrastructure. However, the report says that sources have indicated no evidence of the extra funds to be invested into the club. Nonetheless, both bids fall short of the Glazers' valuation of £6 billion.
With Ratcliffe offering the Glazers to retain their position in the club, although a minority stake, there is a feeling among fans and experts that it would be difficult for the Brit to work with the Americans, given that the latter has owned the club for a long time and might still have a significant say in any club dealings.
While confusions surround United's takeover situation, with more clarity and details expected, Ratcliffe's offer has undoubtedly changed the course of the game, as the Glazers would seemingly prioritise it. However, Sheikh Jassim's 100% buyout would seem more straightforward. Also, keeping asides the sentiments concerning another takeover from the controversial Middle East region, the Qatari will indeed have substantial financial backing, and there is no doubt that the fans would want the latter, as it would give the Red Devils a chance to arrive in the same league as crosstown rival Manchester City (Abu Dhabi-owned) and Newcastle United (Saudi Arabia-owned).
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