The Qatari billionaire Sheikh Jassim bin Hamad al-Thani has submitted a new offer directly to Manchester United plc MANU owners.
The fifth bid went in earlier this week, and the Sheikh said he would engage until Friday. The bid will stand after his deadline, but no further negotiations will exist.
It is believed that Sheikh Jassim has submitted the bid directly to the Glazers and Raine Group, who are advising the American family on the sale of the club.
The latest offer went in earlier this week and is understood to be $6.5 billion, with $1 billion of pledged investment on top.
He faces competition from Ineos chief and United supporter Sir Jim Ratcliffe.
They value United at £6 billion, and the improved offer does not meet that figure, which many view as outlandish, Daily Mail writes.
Ratcliffe’s offer is for most of the club and has the potential for the Glazers to remain involved for a certain period.
There has been a growing frustration at how long the sale is taking, especially given the imminent opening of the transfer window. The process originally started in November of last year.
Price Action: MANU shares are up 2.72% at $18.91 on the last check Wednesday.
Photo via Wikimedia Commons
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
