Manchester United sale 2023: Qatar’s Sheikh Jassim makes world-record bid as Wednesday deadline passes
As reported by Skynews ,Manchester United sale: Qatar’s Sheikh Jassim makes world-record bid as Wednesday deadline passes. Sheikh Jassim Bin Hamad Al Thani has made a debt-free, world-record bid to buy Manchester United before Wednesday’s 9pm deadline; any bid of more than £3.75bn would break the world record fee for a sports club set when the Denver Broncos were sold last summer. Sheikh Jassim Bin Hamad Al Thani made a new, improved, debt-free, world-record bid for Manchester United before Wednesday’s 9pm deadline. Sheikh Jassim believes it is the best bid for the club, the fans and the community. It is yet to be confirmed if Sir Jim Ratcliffe’s INEOS group submitted an improved bid, as they had been expected to, before the Raine group – who are marketing the sale – closed for business at 5pm in New York (9pm UK time). There have been at least five bids and there could be as many as eight, although not all of those bids are to buy the club outright. At least half expected to be from those interested in a minority stake or those who are willing to provide financing options for other parties. Sheikh Jassim and Ratcliffe are the leading contenders but there is no favourite at present, with the highest first-round bids having valued the club at around £4.5bn – well short of the Glazer family’s £6bn asking price. Other known bidders so far include Elliott Management, while Ares, MSD Partners and Oaktree Capital are also said to be interested. There is no guarantee the Glazer family will sell United and they may decide to sell a minority stake and use capital raised to pay down debt and invest for growth. The Raine group and the Glazers will take around a week to evaluate the new bids and decide on their next move. One bidder could be given exclusivity, although it is more likely there will be another round of bids with a smaller group of preferred bidders. Ratcliffe and his INEOS delegation have been described as impressive and sophisticated in their approach having visited the club for six hours last Friday. Ratcliffe says he will not pay a “stupid” price for United but his interest in club would be “purely in winning things”, calling the club a “community asset”. It was previously understood the Qatari bidders were determined not to pay over the odds for the club, but that stance has softened in recent days coinciding with a delegation’s visit to Old Trafford. A Qatari delegation travelled to Manchester from London by train and received a warm welcome. Talks were held across 10 hours – a lot longer than expected. Sheikh Jassim and members of his team had been to Old Trafford as fans before, and the focus of this visit was to get a perspective on what they could do with their capital investment regarding infrastructure, youth development and the women’s team. Any bid of more than £3.75bn would break the world record fee for a sports club set when the Denver Broncos were sold last summer. The Washington Commanders are also up for sale and are expected to change hands for more than that as well. Breaking News 2023: North Korean Missile – Kim says North Korea must be ready to launch nuclear counterattack as daughter watches latest missile test
Manchester United sale | Qatar’s Sheikh Jassim | Qatar’s Sheikh Jassim makes world-record bid | Sky sports news | Qatar news[fvplayer id=”9″
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