In Manchester, the battle for ownership of the iconic football club, Manchester United, has escalated as Qatari banker Sheikh Jassim Bin Hamad Al Thani and British tycoon Jim Ratcliffe made fresh bids to acquire the club.
The deadline for offers was set at 2100GMT on Wednesday, with Raine, the merchant bank handling the sale of the club, overseeing the process.
The Glazer family, the current owners of Manchester United, are reportedly seeking a record £6 billion ($7.3 billion) valuation for the club.
Sheikh Jassim’s offer, which would grant him complete control of the club, includes a plan to clear United’s $620 million debt, as well as investment in a new stadium and training ground, and support for both the men’s and women’s teams. A source close to the Qatari banker’s bid has expressed confidence that it is “the best option for the club, its supporters, and the local community.”
Meanwhile, Jim Ratcliffe, the founder of the INEOS chemical company and a lifelong fan of the football club, has taken a more cautious approach, stating that he will not overpay in a bidding war for Manchester United, calling it “stupid.”
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