Sheikh Jassim bin Hamad Al Thani is yet to hear from the Glazers or the Raine Group regarding his latest bid for complete ownership of Manchester United.
The last offer from the Qatari investor came in June and is believed to be upwards of £5 billion – still shy of the Glazers’ £6b asking price.
It was his fifth attempt at swaying the Americans with a big-money bid, though this one was reported to be his last proposal. The offer came after speculation suggested that Sir Jim Ratcliffe had taken pole position in the race to take over England’s most successful club.
INEOS CEO Ratcliffe’s bid has been for majority ownership – rather than full – and he would reportedly keep the Glazers on in some capacity for a few years before buying out their shares entirely.
Now, according to an update from Manchester Evening News, there are concerns from Al Thani and his entourage that the Glazers have no intention of selling.
The drawn-out process of the owners opening up for outside investment began in November 2022, meaning we’re approaching a full year of the future of United being unclear and uncertain. Protests from supporters have continued throughout that time.
MEN on the United takeover
MEN states: “The Manchester Evening News reported in February that Joel and Avram Glazer, the United co-chairmen, are reluctant to sell. Their siblings Bryan, Edward, Kevin and Darcie also sit on the United board. Figures involved in a possible takeover of United are becoming weary with the process.
“It is understood there was discord among the Glazer siblings when they went to market nine months ago and there is still no agreement among the siblings as to what they want to do with United. There is surprise at the absence of any clarification or communication since the process began and NYSE figures have taken a dim view of share price fluctuations on the basis of rumour.
“A financial source claimed figures connected to the Raine Group, the investment banking firm hired by the Glazers, believe they have been tasked with selling something that isn’t really for sale.”
