According to the Daily Mail, INEOS has made a greater offer than Sheikh Jassim bin Hamad Al Thani to buy Manchester United.
Last night, both bidders submitted their final round of proposals, and the winning bid should be announced soon. Sheikh Jassim made a bid that was worth more than £5 billion, but Sir Jim Ratcliffe places a higher value on the team. If Joel Glazer and Avram Glazer decide to stay on, the British millionaire wants to purchase either 69% of the Red Devils or slightly more than 50%.
However, Sheikh Jassim also committed to providing sizable additional funding. But, Ratcliffe’s appears to be preferred by the United owners. If his offer is approved, the Glazers would retain a small ownership interest in the Old Trafford team.
The offer from Sheikh Jassim would not allow Joel and Avram to keep some ownership, as both of them desire. The chairman of the Qatar Islamic Bank has increased his offer because he wants to acquire 100% of the club.
However, Ratcliffe’s action might hurt his chances. Throughout the bidding process, Ineos’ valuation has been higher than Sheikh Jassim’s.
Other investment opportunities are also being offered by some US-based organisations in exchange for a portion of the club. The groups are willing to give the Glazers between £1 billion and £2 billion so they can renovate Old Trafford or build a new stadium.
They might also improve the club’s training facility and sign new players for the squad. It remains to be seen which buyer could actually flex their financial strength and emerge victorious in this lengthy ownership battle.
