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Man Utd takeover: Sheikh Jassim waiting for a response on bid for Premier League club

Sheikh Jassim and Sir Jim Ratcliffe's bids are below the £6bn asking price but both bids are a massive premium on the club's market value which is calculated at £2.5bn by the New York Stock Exchange; Sheikh Jassim is focused on buying Man Utd but has no transfer targets as yet

Sheikh Jassim has bid to take over Manchester United

Sheikh Jassim is still waiting to hear back from Raine, the bank who have been appointed by the Glazer family to sell all or part of Manchester United.

Five months into the process, and five weeks until the transfer window opens, there has only been one bid to buy the club in full which is from the Qataris.

Sheikh Jassim is focused on buying Manchester United but he has no transfer targets for the summer window if his bid for the club is accepted.

A week after submitting his third and final bid for United, Sheikh Jassim's bid team have drawn up plans about how they would run United but their focus on investment has not included identifying any transfer targets.

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Sheikh Jassim and Sir Jim Ratcliffe's bids are below the £6bn asking price but both bids are a massive premium on the club's market cap on the New York Stock Exchange at the moment - £2.5bn. The bids are both believed to value United at close to £5bn.

As Sheikh Jassim is the only bid on the table for 100 per cent of the club, he will not be bidding against himself. Ratcliffe's bid would buy only just over 50 per cent of United's shares, leaving the Glazers with a minority shareholding of around 20 per cent, and still exerting a degree of influence over matters at Old Trafford.

Ratcliffe's potential deal would not be welcomed by large sections of United's support who have campaigned for the Glazers - whose leveraged buyout in 2005 plunged the club into huge debt - to quit Old Trafford.

Also See:

Analysis: Do the Glazer family really want to sell?

Deadline passes for Manchester United takeover bids

Sky Sports News chief reporter Kaveh Solhekol:

"To put Sheikh Jassim's £5bn into context, Chelsea went for half that, and the Washington Commanders NFL team were sold for about £4.8bn last month, though that deal hasn't been ratified yet.

"It's up to the Glazers now, this is the final bid - take it or leave it. A lot of people don't think the Glazers want to sell, but the people I've spoken to close to the Qataris are convinced that they do.

"People in the US are also saying they wouldn't have gone through this process for five months if they weren't serious about selling. It just depends if £5bn is enough.

"But if you're Erik Ten Hag or a Man Utd supporter you want something to happen quickly."

Man Utd bidders in profile

A look at the publicly-known bidders for Manchester United...

Sheikh Jassim Bin Hamad Al Thani

Sheikh Jassim Bin Hamad J.J. Al Thani has bid to take over Manchester United
Image: Sheikh Jassim Bin Hamad J.J. Al Thani has bid to take over Manchester United

The Qatari sheikh is the chairman of Qatar Islamic Bank, one of his country's biggest banks. His father Hamad Bin Jassim Bin Jaber Al Thani is a former prime minister of the Middle East state. There is relatively little information about him in the public domain, but it is known he attended boarding school in the UK and went on to the Royal Military Academy at Sandhurst, during which time he apparently fell in love with United.

Amid potential controversy about state ownership of clubs, Sheikh Jassim was clear when announcing his bid that his interest was a private initiative through his Nine Two Foundation. He hopes to take 100 per cent control of the club and has vowed, if he does so, to wipe all debts and invest considerably in the club and its infrastructure and support local communities.

Sir Jim Ratcliffe

Jim Ratcliffe, Manchester United
Image: Sir Jim Ratcliffe is leading the other group trying to takeover Man Utd

The 70-year-old Manchester-born businessman is one of the richest people in Britain, with an estimated personal wealth of approximately £6bn. A boyhood United fan who grew up on a council estate, he founded the chemicals firm INEOS in 1998 and oversaw its growth to become a company now worth an estimated £50bn.

His interest in sport has become well-known in recent years. He owns French Ligue 1 side Nice and Swiss Super League outfit FC Lausanne-Sport, as well as the cycling team Ineos Grenadiers. Last year he submitted a bid to buy Chelsea, where he once held a season ticket, but ultimately lost out to the American Todd Boehly.

Elliott Management

Elliott Management is a US-based hedge fund that has submitted a bid for a minor stake in Manchester United.

The firm previously owned AC Milan but made a significant profit by selling the club to RedBird Capital for €1.2bn in August 2022.

Elliott took control of AC Milan in 2018 when Chinese businessman Li Yonghong defaulted on a £300m-plus debt to the hedge fund. The firm's London-based managing partner Gordon Singer remains on the board at the Italian club having retained a minor financial interest.

Figures from Elliott, who initially indicated they would help fund a potential bidder, received a tour of Old Trafford and Carrington.

The firm's continued involvement in the process has led to suggestions the Glazers are looking to stay at United, with their money potentially being used to redevelop the club's stadium and facilities.

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