The Qatari billionaire Sheikh Jassim bin Hamad bin Khalifa Al Thani has raised his bid for Manchester United by making a fourth and last-ditch supply for the membership, which is known to be nearer to £5 billion.
The businessman has made a late intervention after the lifelong United fan, and petrochemicals billionaire, Sir Jim Ratcliffe had submitted his third bid which valued United at the next determine.
As with all of Sheikh Jassim’s earlier proposals, he’s attempting to purchase 100% of the membership, the place the Glazer household are present majority shareholders.
The Qatari has additionally pledged to clear United’s debt of £536 million and has promised a separate fund directed on the membership and the group.
Ratcliffe’s most up-to-date bid allowed Joel and Avram Glazer, two of the six siblings whose father, Malcolm, purchased the membership in 2005, to retain a stake whereas aiming to finish a takeover within the subsequent few years.
The American service provider financial institution the Raine Group are overseeing the method for the Glazers. There have been three earlier rounds of bids, with out seeming to fulfill the Glazers’ valuation, although Ratcliffe had emerged because the favorite to finish a deal.
