Sheikh Jassim sticks to guns with take-it-or-leave-it Man Utd offer

Sheikh Jassim bin Hamal Al Thani has stuck to his guns by submitting a non-negotiable final offer to buy Manchester United from the Glazer family outright, according to reports. The Qatari billionaire is aiming to lead a full-scale takeover of the Red Devils but is not the only bidder in the race, while Ineos chief Sir Jim Ratcliffe is looking to purchase a 50 per cent stake in the club to share joint ownership with the Glazers.

The two leading candidates to buy United have already seen two bids knocked back by the Glazers, who have appointed the Raine Group to oversee the takeover process, and were both invited to submit new offers prior to Friday evening’s deadline. Sheikh Jassim has reportedly tabled a take-it-or-leave-it proposal worth upwards of £5billion that would also see the Qatar-based group invest heavily in United’s infrastructure, according to The Times.

The offer is said to have landed in New York in advance of the 10pm cut-off point on Friday evening and reportedly includes a fee that would smash the existing record for the largest sum paid to purchase a football club, which was set nearly a year ago when Todd Boehly and Clearlake Capital spent around £4.25m to buy Chelsea from Roman Abramovich.

Sheikh Jassim is also said to be preparing to wipe United’s debt in order to allow the club to make a fresh start under their new ownership if his is successful. The non-negotiable nature of the offer falls in line with earlier reports claiming that the Qatar-led consortium were looking to avoid making ‘reckless’ promises and would be willing to walk away from talks if the Glazers did not reduce their demands.

The new Qatari bid remains well short of the valuation placed on United by their current owners, who are said to be looking for around £6bn in exchange for their 100 per cent stake in the club. It remains to be seen how the situation will play out over the coming weeks, with the Glazers also thought to be mulling over whether or not to stay on as joint-owners alongside Ratcliffe by accepting his bid.

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