Finally, the Glazer family must choose between selling Manchester United to petrochemicals billionaire Sir Jim Ratcliffe or Qatari banker Sheikh Jassim.
According to jubilant reports from Qatari media, Sheikh Jassim’s attempt to purchase Manchester United appears to have been successful.
Sheikh Jassim bin Hamad Al Thani, a banker from Qatar, submitted what his party described as a fifth and final offer last week in an effort to close the deal against Sir Jim Ratcliffe. That followed rumors that the billionaire INEOS was likely to receive approval from the Glazer family.
According to the Qatari publication Al-Watan, which is run by Sheikh Jassim’s father and the nation’s former prime minister, Jassim bin Jaber Al Thani, Sheikh Jassim’s proposal to purchase all of United has now prevailed.
The outlet tweeted on Monday night that the deal would be announced “shortly.” It would provide some sort of resolution to a long-running saga.
In November, it was revealed that the Glazer family, who have owned United since a leveraged buyout in 2005, had started a procedure to “explore strategic alternatives” for the team.
After three rounds of bidding, the front-runners were the relatively unknown Qatari banker Sheikh Jassim and the petrochemicals billionaire Ratcliffe, who is already heavily involved in sports.
The Avram and Joel Glazer and Raine Group have been mum on when a preferred bidder might be revealed, which has caused the process to drag on. That changed over the weekend when numerous reports indicated that a decision was about to be made.
Sheikh Jassim is attempting to acquire all of United in a deal that would end the Glazer family’s ownership of the team.
Ratcliffe is rumored to be willing to keep Avram and Joel Glazer on board in some capacity and is reportedly willing to buy about 60% of the club’s shares.
