On Thursday this week, a delegation representing the interests of Qatari banker Sheikh Jassim Bin Hamas Al Thani arrived at Old Trafford, Manchester for a meeting regarding the takeover of Manchester United.
It had been widely reported that Sheikh Jassim’s bid was less than the Glazer Family’s asking price of £6 billion for Manchester United, but his 100% takeover has always included clearing the club’s debt and improving facilities.
Following his delegation’s visit and positive meeting with the club’s executive and takeover negotiators, it has been reported that Sheikh Jassim’s stance has changed and his bid for Manchester United improved to about £6 billion, the number that the Glazer Family feels is what the club is worth.
According to Sky Sports, Sheikh Jassim is now consulting his bankers and advisors on a new bid for the club expected to be submitted as early as next week.
A US banker with inside access to the proceedings is reported by SkySports to have said that “All the numbers people from the bidders will be working out the real value of the club over the next few days. They will be making second bids. The reality is their first bids were just indicative. In this process, the second bids next week are really the first serious bids.”
As Sheikh Jassim is preparing a second bid, his competitor Sir Jim Ratcliffe was also at Old Trafford on Friday for a meeting about the same. As earlier reported, the British billionaire’s bid through his INEOS Group is to buy 69% of Manchester United, which is the exact stake held by the Glazers.
His delegation spent six hours in the meeting with the club bosses where they also inspected the club’s training facilities at Carrington. They are also expected to submit a second bid in the coming days.
