Sir Jim Ratcliffe still at top spot to purchase Manchester United despite Sheikh Jassim’s latest lucrative bid
Sir Jim Ratcliffe wants to own majority of shares of Manchester United also offering minority shares to current owners.
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Sir Jim Ratcliffe takes the number one position in the Manchester United club bidding. The entrepreneur has offered more than £5 billion. The English billionaire wants at least more than 50% of the share of the club.
The English chemist aims to take at least 69% of the club. It is reported that the Glazers may or may not hold shares in that position. Further details of the bidding have not been provided. This was the third round when the bid was made by the bidders.
The last bid was given on 28th March. Both Ratcliffe and Qatari Sheikh Jassim had submitted their final bid. The Qatari bidder offered a bit more than what was offered by the Englishman. The Glazers have not given their final word regarding which bid would be accepted by them.
Before the third round, Thomas Zilliacus took off his bidding. The Finnish businessman said the bidding was farse and away the Red Devil owner wanted to raise money. The Finnish businessman said they wanted to raise money by giving only part of the share and not actually selling it. Manchester United fans have been protesting for ages for the owner of the club to change.
The last bid by Qatari businessman Sheikh Jassim.
Sheikh Jassim is a stiff competitor to Sir James Ratcliffe. The son of Qatar’s former Prime Minister has offered one billion less than what was the asking price. The banker has said that the bid will be his final bid and there wouldn’t be any more bids coming from him.
The Qatari businessman, unlike the English businessman, intends to buy 100% of the club. The Englishman against him is happy with a majority of shares with some minority to the Glazers. The Arab has also promised to pay off all the debts that were left to be paid by the club.
The banker from Qatar has taken the oath to bring the Red Devils ‘with their former glory’. The American owners recently said they could gather for investments that could raise money for their debts to get cleared. The owners also said they would hold the majority of shares giving some to the investors. Yet till now there is no official bid of any such investors.
The Glazer’s decision to not sell the club will only increase financial difficulties for the club. The owners who acquired the club back in 2005 have only seen debts hindering the club’s way to glory. It is a matter to see if Sir Ratcliffe could persuade the Qatari bidder to dismiss the initial owners of their ownership rights.
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