Sheikh Jassim's patience with the drawn-out Manchester United takeover processes is 'wearing thin', PA news agency reports
The club's current owners, the Glazer family, put the club up for sale in November last year, with the Qatari announcing his first bid back in February. Since then, British billionaire Sir Jim Ratcliffe has also emerged as a frontrunner, although unlike Sheikh Jassim his proposal would potentially see the Glazers remain in some capacity.
The INEOS chairman and CEO wants to buy the Glazer's 69 per cent of United, while Sheikh Jassim is bidding for 100 per cent control. Now, with the takeover process rumbling on, the Sheikh and his Nine Two Foundation reportedly feel that by Friday, United’s owners,, and the Raine banking group which is conducting the sale process will have had ample time to seek or request clarification and revision of the bid, and will therefore no longer engage with them on it beyond this date.
According to PA, sources close to the Qatari say he is "simply keen to bring the matter to a swift conclusion with a crucial summer transfer window for United coming up". Sheikh Jassim submitted his fifth and final bid for United on Wednesday, June 7, with reports saying he considers it "an enormous premium on the current share price of the club, both now and at any stage of the club’s recent share price".
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The Glazers are reported to value the club at £6billion. After a soft deadline in February, those that advanced faced more delays as a second deadline was announced in March. Raine Group then requested interested parties' third and final bids on April 28. Last month, Sheikh Jassim made a fourth offer.
The Glazers, who have been unpopular since their leveraged buyout of the club in 2005, have been made aware of the United fans' desire for a full buy-out.
Upon announcing his bid back in February, a statement from Sheikh Jassim read: "Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club.
"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 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."
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