Qatar businessman Sheikh Jassim Bin Hamad JJ Al Thani, the chairman of the Qatar Islamic Bank has reportedly decided to boost his primary offer and match the Glazer’s asking price of $6 billion for a complete Man United takeover.
The 40-year-old Qatari business was the first person to shoot his shot for an outright purchase of the club when the Glazers listed Man United in the market. The American owners are currently valuing the club at $6 billion whilst the actual price remains close to $5 billion.
According to a report by Bloomberg News relayed by NDTV, Sheikh Jassim Bin Hamad JJ Al Thani could post the final offer to the Glazers, close to their asking price and compel them to sell the club as soon as possible.
Apart from Qatar, British billionaire Jim Ratcliffe has also offered his bid for a takeover but that isn’t as attractive as that of the Middle-Eastern bid. Ratcliffe’s terms remain liberal as he will buy a majority stake in the club, the same which is currently owned by the Glazer family and then delist the shares held by the public, thus enabling him to make a complete takeover.
He has also indicated investing in the women’s team which has remained neglected by the current owners and that will be a point considered by the club’s directors and fans alike. It is certain that if bought by the Qatari organisation, the fans or directors won’t have much to say in decisions, even though the club would have almost unlimited funds.
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As things stand, Glazers are expected to stay the owners as they have recently been backed by an American hedge fund called Elliott Investment Management. If they aren’t satisfied with the incoming bids, they will hold onto the club.
Since their takeover of a debt-laden Man United club in 2005, the Glazers have faced serious opposition from the fans and it needn’t be said that a ferocious reaction is set to be expected if the current owners stay at the helm of the club.