Sheikh Jassim bin Hamad Al Thani of Qatar and Jim Ratcliffe of the United Kingdom have launched their third and final bid to purchase Manchester United on Friday.
Ratcliffe and Sheikh Jassim are vying to acquire the Premier League club owned by the Glazer family.
As of Friday at 2100 GMT, after the third round of bidding had ended, Ratcliffe’s improved offer’s worth remained a secret, while Sheikh Jassim’s most recent offer appears to be valued at over £5 billion ($6.2 billion).
It is being speculated that Sheikh Jassim intends to fully take over Manchester United by committing a sizable additional sum of money for infrastructure and contracts.
The funds would be used to renovate United’s Old Trafford Stadium as well as to upgrade the team’s training facilities.
In Sheikh Jassim’s proposal, the $620 million debt owed by United will be cleared.
As for Ratcliffe, the founder of INEOS Chemical Company, the British billionaire wants to buy a controlling interest in United worth more than 50%.
But this bid is not likely to go down well with Manchester United fans because it would permit United’s executive co-chairmen Joel and Avram Glazer to maintain their 20% ownership stake at the club as shareholders.
On the other hand, the Glazers may not accept Sheikh Jassim or Ratcliffe’s offer because they reportedly want a record-breaking £6 billion before agreeing to sell the club.
Two private equity firms, Elliot Investment Management, and The Carlyle Group, are among those vying for a minority stake that would permit the Glazers to maintain control and raise money for the club’s infrastructure upgrades.
Although Avram and Joel Glazer are reportedly eager to keep their shares, their siblings and fellow directors Kevin, Bryan, Edward, and Darcie Glazer Kassewitz are reportedly inclined to sell theirs.
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