A HUGE unexpected bid was made just this early morning, and Manchester United’s new owner has just been revealed!
A HUGE surprise bid was made today, and Manchester United’s new owner has just been unveiled!.
Sheikh Jassim bin Hamad al-Thani made a last offer for Manchester United last week; Raine Group, the investment firm in charge of the team’s sale, has yet to decide on a preferred offer; and British billionaire Sir Jim Ratcliffe is also interested in taking ownership at Old Trafford.
According to insiders who spoke to 90min, the Qatari drive to purchase ownership of Manchester United, directed by Sheikh Jassim bin Hamad al-Thani, is more optimistic than ever that it will succeed in completing a deal before British billionaire Sir Jim Ratcliffe.
Sheikh Jassim established the Nine Two Foundation particularly to take over at Old Trafford, and a fifth and final bid of almost Ā£6 billion was made last week. On Thursday, the Nine Two Foundation became a legally registered company in the United Kingdom.
The Qatari bid team had grown impatient with the previous stalemate in negotiations, but their most recent offer is thought to have progressed conversations with United and Raine Group, the investment bank in charge of the club’s sale.
However, sources close to United have told 90min that discussions with all interested parties are still underway. According to other sources, Sheikh Jassim’s offer is being negotiated over an exclusivity period, ahead of Sir Jim Ratcliffe’s INEOS firm, which is also vying to take ownership of the club.
Other Old Trafford insiders have indicated that selecting a favored bid or winner may not even necessitate the granting of an exclusivity period.
In an interview with the Wall Street Journal, Sir Jim Ratcliffe discussed his refusal to overpay for United.
“How do you calculate the price of a painting?” How can you figure out how much a house is worth? Ratcliffe told the Wall Street Journal that it has nothing to do with the cost of construction or painting. “Paying stupid prices for things is something you should avoid doing because you’ll later regret it,” he explained.
The latest twist in a volatile 18-year reign that began in May 2005 when Malcolm Glazer purchased a 28.7% stake in the club from John Magnier and J.P. McManus came last November, when the Glazer family announced that they were looking for investment or an outright sale.
Despite ongoing trophy success under Sir Alex Ferguson’s leadership – five Premier League crowns, three League Cups, and Champions League victory between 2005 and 2013 – their ownership has been marred by fan dissatisfaction.
In the ten years afterwards, United has won four major titles and spent more than Ā£1 billion on transfers, yet this lavish spending masks years of increasing debt and money draining from the squad.
