Sheikh Jassim Bin Hamad Al-Thani presented one more bid to purchase Manchester United Football club on Friday April 28 and is optimistic it will find lasting success regardless of worries current owners, the Glazer, not entirely set in stone to remain, sources say.
Raine Group, the Glazers’ merchant bank, expected a third round of bids on that same Friday at 5 p.m. Eastern Time before selecting a preferred bidder to begin a period of exclusivity.
New bids were made by Sheikh Jassim, which is backed by Qatar, and INEOS, which is led by British billionaire Sir Jim Ratcliffe. Elliott Management, Ares Management Corporation, Sixth Street, and Carlyle, as well as other groups looking to buy a minority stake, also made proposals.
An offer that would have Joel and Avram Glazer, the two siblings who are most involved at Old Trafford, retain a stake in the club, according to sources, has already sparked a significant backlash from fans.
Sheik Jassim is just keen on buying 100 percent of the offers and finishing a full takeover. And there is conviction inside his consortium that the proposition will be sufficiently worthwhile to entice the Glazers to sell.
The Glazers’ estimated value of £6 billion, despite experts’ estimates of closer to £3 billion, has been the main obstacle up to this point.
In November 2022, the Glazers announced that they would look at “strategic alternatives,” which could finish a complete sale or an investment. According to sources, the staff of the club was told to expect “clarity” regarding the ownership situation by the season’s end, which is just over a month away.
Supporters are concerned that the Glazers, who oversaw United’s leveraged buyout in 2005, will accept minority investment and maintain control at Old Trafford.
Fans are planning to protest ahead of Sunday’s Premier League clash against Aston Villa with organisers asking for an 18-minute boycott at the start of the game to mark each year the Glazers have owned United.