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Manchester United takeover: Sheikh Jassim and Sir Jim Ratcliffe improved bids

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Manchester United
Manchester United is set to receive a new owner in the coming months. | PHOTO: ESPN |
  • Premier League club Manchester United takeover is ongoing as the club is seeking new owners
  • Current owners, the Glazers family announced they were putting the club on sale in November 2022
  • Two  main bidders, Sheikh Jassim of Qatar and billionaire Sir Jim Ratcliffe have both submitted new and improved bids

The Manchester United takeover race entered a new phase on Wednesday night, as the latest deadline passed.

The Glazer family confirmed in November that they were ready to consider strategic alternatives for the club they have owned since 2005, including a full takeover.

Sheikh Jassim bin Hamad Al Thani of Qatar and Sir Jim Ratcliffe of INEOS have been the only two to go public with complete takeover offers. Fans on social media who are eagerly awaiting updates have been evenly split in their support for one or the other.

Other people are also interested. Many supporters, however, want a minority stake in the team.

This month, United officials have conferred with a number of potential suitors. A group representing Sheikh Jassim was present, and Ratcliffe personally travelled to Old Trafford.

Improved bids from Sheikh Jassim and Sir Jim Ratcliffe

It is claimed that improved bids from Sheikh Jassim and Sir Jim Ratcliffe have been submitted, with each exceeding £5 billion – a figure that exceeds the current world record paid for a sports team, which was set when the Denver Broncos were purchased for $4.65 billion (£3.75 billion) last year. Chelsea was eventually sold for £2.5 billion, with an additional £1.75 billion committed for investment.

According to earlier reports, the Glazers are holding out for £6 billion.

Ratcliffe recently stated that he would not be compelled to spend more than the going rate.

Sir Jim Ratcliffe

British billionaire Sir Jim Ratcliffe at Old Trafford after submitting his improved bid in the Manchester United takeover. | PHOTO: Manchester Evening |

What has Sheikh Jassim said about purchasing Manchester United

Sheikh Jassim stated in a statement released on his behalf following his opening offer last month that the bid intends to return the Club to its former glories both on and off the field, and – above all – will seek to put the fans at the heart of Manchester United Football Club once more.

“The bid will be completely debt free via Sheikh Jassim’s Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the Club supports.

“The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world.”

READ: Manchester United takeover: Bidders to meet the club this week

What has Sir Jim Ratcliffe said about the Manchester United takeover?

“We would see our role as the long-term custodians of Manchester United on behalf of the fans and the wider community,” a statement from INEOS read when Ratcliffe’s initial bid was confirmed.

“We are ambitious and highly competitive and would want to invest in Manchester United to make them the number one club in the world once again.

Ratcliffe further stated that they also recognise football governance in England is at a crossroads. He said they would want to help lead this next chapter, deepening the culture of English football by making the club a beacon for a modern, progressive, fan-centred approach to ownership.

“We want a Manchester United anchored in its proud history and roots in the North-West of England, putting the Manchester back into Manchester United and clearly focusing on winning the Champions League.”

Nathan Sialah is a journalist by profession with interest in politics, sports, cryptocurrency and human interests with 5 years experience in Radio and Digital Journalism. This has helped Sialah develop a responsible approach to any task he undertakes or any situation that he is presented with.

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