the Qataris submit a second offer for the takeover of Manchester United and place themselves in the lead
Qatar met the package. The chairman of Qatar Islamic Bank (QIB), Sheikh Jassim Bin Hamad Al Thani, on Wednesday submitted a second offer to buy English football club Manchester United, a source familiar with the matter told AFP. Candidates for the takeover of the Red Devils had until 9 p.m. to submit an improved offer compared to that made in mid-February. The joint source by AFP gave no details on the new proposal.
“Sheikh Jassim remains fully involved and confident in his offer. We believe this is the best offer for the club, the supporters and the local community,” she said. British billionaire Jim Ratcliffe, owner of the petrochemical group Ineos and several football clubs, including OGC Nice in France, has also submitted a second offer, reports the English press.
6.8 billion euros expected
These two declared candidates had valued the English club around 4.5 billion pounds (5.1 billion EUR) during the first round of bidding, far enough from the 6 billion pounds (6.8 billion EUR) expected by the owners. Americans, the Glazer family, to cede control of the club. The second offers reached, or even exceeded, 5 billion pounds (5.7 billion EUR) according to several media, which constitutes a world record for a collective sports club.
The rest of the process launched in mid-November, when the Glazers said they were ready to explore “all options” on the evolution of the club’s capital, is uncertain. “The next steps depend on the – we are not expecting an immediate response from the seller,” the source familiar with the matter said. It is also possible that other offers, not public, may be solicited from the American investment bank Raine, responsible for steering the sale.
Several investment funds would be ready to make partial offers by joining forces with another investor or even to finance offers. It is also not entirely excluded that the Glazers, or at least Joel and Avram, who are co-presidents of the Red Devils, will remain at the helm of the club despite their very strong unpopularity, but will raise funds to invest again, especially in infrastructure.