09 May 2023 , 11:37
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Sheikh Jassim bin Hamad Al Thani is the Glazer family's 'preferred' bidder in the race for Manchester United.
The Qatari banker has been one of the more prominent bidders for the Premier League club, along with INEOS billionaire Sir Jim Ratcliffe. Both have remained in the hunt through the third round of bidding, with the process dragging out for several months so far.
Sheikh Jassim has stressed throughout that he plans a 100 per cent takeover of United, who have been owned by the Glazers for the best part of two decades. According to The Express, he has been backed to be the preferred option of the current owners, despite reports his latest bid falls short of their £6bn asking price.
Sheikh Jassim bin Hamad Al Thani remains in the running for Man Utd ownershipRatcliffe's bid is expected to be for a controlling interest, rather than a full takeover. This would allow the Glazers to retain a stake in the club, though there have been reports of a clause which would let him force the current owners out at a later date.
The current record for the takeover of a sports institution is the $6bn (£4.8bn) paid for NFL franchise the Washington Commanders. A group led by former basketball star Magic Johnson won the race in April this year, after Amazon chief Jeff Bezos reportedly explored a bid but opted not to go through with it.
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The third bid from Ratcliffe is understood to value the club at more than that of Sheikh Jassim's offer, though the Englishman is not proposing a 100 per cent takeover. A decision on the new ownership may now only arrive after the season concludes, with Man Utd's Champions League qualification yet to be secured.
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The Glazer family have yet to decide what's next for Manchester United (AFP via Getty Images)" Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club," The Qatari said in his initial statement back in February. "The bid plans to return the Club to its former glories both on and off the pitch, and – above all – will seek to place the fans at the heart of Manchester United Football Club once more.
"The bid will be completely debt free via Sheikh Jassim’s Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the Club supports," the statement continued.
"The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world. More details of the bid will be released, when appropriate, if and when the bid process develops.”