Manchester United Takeover: The Glazers have been dragging the Manchester United sale for longer than anyone was expecting. As the bidders are growing impatient, rumours have also spread that the Glazer brothers could be using the whole thing as a ruse. However, the Qatari businessman, Sheik Jassim bin Hamad al-Thani takes his business seriously and has ignored the deadline set by the Glazers. He has indicated that his revised bid will come before the end of the weekend. Follow Premier League LIVE Updates on InsideSport.IN.
Sir Jim Ratcliffe gave his revised bid of a record-breaking £5 billion on Thursday. It was assumed that Sheik Jassim would give his revised bid on Friday before the deadline put forth by the Glazers ends. However, the team handling the Qatari businessman’s bids informed that this deadline was more ‘fluid’ than ‘hard’.
The Glazer brothers have been delaying deadlines and the entire process for quite some time now. As per reports, Avram Glazer and Joel Glazer intend to buy-off the other four brothers, sell smaller stakes to bidders, and keep a controlling part for themselves. They further want to establish a new company that would separate the commercial digital operation and merchandising money.
This possibility has been fueled by the bid put forward by the AC Milan owner, Elliott Investment Management. They have expressed their wish to buy smaller stakes in the club. They have also shown interest in helping other bidders. This has not helped make the Glazers’ case and Sheik Jassim has now decided to retaliate to show that he still has control over the process.
Sheikh Jassim has submitted second round bid to buy Manchester United overnight 🚨🔴🇶🇦 #MUFC
Understand Qatari’s Sheikh Jassim group remain confident, they believe bid is the best one for the club, fans and local community.
The ball is now in Glazers court. pic.twitter.com/z7FBwlZA0B
— Fabrizio Romano (@FabrizioRomano) March 25, 2023
At the beginning of the sale process, the Glazers put the valuation of the club at £6 billion. Initially, the maximum bid put forth by all the parties fell £1.5 billion short. Man United officials then arranged presentations for all parties to show them their future plans and financial side. These revised bids are coming after their Old Trafford visits and presentations.
However, many incidents are fuelling the rumour that the Glazer brothers might not want to sell the club at all. It all could be a ruse and they are doing everything to just push up the club’s price and make that the leverage for a loan. These probably could have led Sheik Jassim to make a power-play move. The Qatari bidding team has signalled that they will give the revised bid before the end of this weekend. This could be a power-play move from the Qatari side over the Glazers.
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