Connect with us

Latest News

Man United takeover: Sheikh Jassim makes £5 billion deal, INEOS offers 75% share

Published

on

199B66A1 8415 473E BBC3 676BF710F460

Man United Takeover :- Sheikh Jassim has reportedly submitted a world-record bid of over £5 billion to acquire Manchester United, while INEOS has offered to purchase a majority stake in the club.

The Glazer family, who currently own the club, had set a deadline of 10pm on Friday for interested parties to submit their final offers, with Sheikh Jassim’s bid being confirmed just before the deadline.

If successful, Sheikh Jassim’s bid would make Manchester United the most expensive sports team in history, surpassing the £4.8 billion deal to acquire NFL team Washington Commanders.

However, it falls short of the Glazers’ valuation of the club, which is thought to be around £6 billion.

The offer includes a separate investment to improve the team and develop the infrastructure around the club, including Old Trafford stadium and the training ground.

INEOS, owned by Sir Jim Ratcliffe, submitted an offer for a majority stake in the club, which would leave the Glazers with a minority shareholding of around 20%.

However, this bid is likely to face opposition from a significant portion of United’s fan base who have previously campaigned for the Glazers to sell the club.

The final round of bidding marks the end of a five-month-long process since the Glazers announced their intention to sell the club in November 2022.

The Glazer family and Raine Group, who helped to facilitate the sale of Chelsea to Todd Boehly last year, are expected to review the bids and decide which, if any, to accept.

The potential sale of Manchester United to either Sheikh Jassim or INEOS marks a significant moment in the history of the club.

While the Glazers have overseen a period of success on the pitch, their ownership has been marred by controversy and criticism from fans. The sale of the club could potentially usher in a new era of investment and success for one of the world’s most storied football clubs.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *