Sheikh Jassim was bidding for the Premier League against British billionaire Sir Jim Ratcliffe. The Chairman of Qatar Islamic Bank made his 5th and final offer to purchase the 20-time English champions last week.
Sources reveal that Man Utd’s current owners, the Glazers, have chosen Sheikh Jassim’s bid as their preferred option, according to Al-Watan newspaper. Al-Watan further announced on Twitter that the takeover bid was a “success,” with an official announcement expected soon.
While the exact valuation details have not yet been disclosed, a report by UK’s The Guardian said that Sheikh Jassim’s final bid, submitted on June 7, amounted to £5.5 billion. This offer includes the clearance of a £1 billion debt, along with the establishment of a dedicated fund for the club and its surrounding community, the report said.
Sir Jim Ratcliffe, the head of the Ineos group and a devoted Man Utd supporter since childhood, had aspired to acquire approximately 60 per cent ownership of the club. His proposal included a provision allowing the Glazers to retain their positions for a defined period before a planned buyout.
The Glazer family had initially valued the club at £6 billion when it was put up for sale. Al-Watan’s report indicates an imminent decision by the Glazers will finally bring an end to one of the most extended takeovers in recent football history. In November, the US-based Glazer announced that the board was exploring various strategic alternatives for the future, including a potential complete sale of the club.
