Sheikh Jassim bin Hamad Al Thani has made his fifth bid to purchase Manchester United, according to a source close to the Qatari banker.
This is said to be his final bid, and he will withdraw from the process after Friday.
Sheikh Jassim’s offer includes plans to pay off United’s existing debt. It also proposes a separate fund for the club’s development and community support.
Sir Jim Ratcliffe’s Ineos Group is another prominent bidder for the Premier League club. Discussions have been ongoing, and it was revealed in March that Manchester United had a debt of £969.6 million, which included gross debt, bank loans, and outstanding transfer fees.
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The Glazer family, who currently own the club, announced in November their consideration of selling Manchester United as they explore different strategic options.
Despite the bid deadline passing on 28 April without a response from the Glazer family, there was growing confidence within the Ineos camp in May that their efforts to acquire the club would be successful.
It has been suggested that Ratcliffe’s Ineos Group proposed a lower percentage of the club to be purchased initially, reducing from the initial 69% to just over 50%. This adjustment would allow co-chairmen Joel and Avram Glazer to retain some involvement in the club’s operations.
Sheikh Jassim Bin Hamad Al Thani is part of the ruling royal family who have a collective net worth estimated to be around $335 billion (£275bn).
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