Qatar’s Sheikh Jassim bin Hamad al-Thani submits new bid to buy Manchester United

Qatari billionaire Sheikh Jassim bin Hamad al-Thani has submitted a new bid worth around 5 billion pounds ($6.12 billion) to buy Manchester United, Sky Sports News reported on Saturday.

The second bid was confirmed on Saturday, after Sheikh Jassim’s representatives received an indefinite extension on Tuesday for an original deadline for second bids scheduled at 9 p.m. on Wednesday.

The new bid had “always remained on track” even as news regarding Sheikh Jassim’s new bid “had gone very quiet” before the confirmation, according to Sky Sports News.

Sir Jim Ratcliffe, Thomas Zilliacus, and US hedge fund Elliott Management have also made their bids to either wholly own or obtain smaller stakes in the football club.

Elliott Management made an offer to buy minority stake in Manchester United before the deadline, while Thomas Zilliacus’ holding company XXI Century Capital and Sir Jim Ratcliffe also made revised offers for ownership.

According to a previous article by Al Arabiya English citing reports, Sheikh Jassim is considered the favorite to complete the purchase over rival bidder Jim Ratcliffe.

Earlier this month, representatives of al-Thani, who is the chairman of one of Qatar’s biggest banks, met with the current owners of Manchester United at Old Trafford to discuss details to make an informed decision regarding a second bid.

Check Also

Canada on track for its worst-ever wildfire season

Canada is on track for its worst-ever year of wildfire destruction as warm and dry …

Leave a Reply

Your email address will not be published.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