Man Utd bidder Sheikh Jassim has left Glazers with no choice after takeover ultimatum
The Glazers have been exploring strategic alternatives for almost a year.
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Manchester United takeover hopeful Sheikh Jassim bin Hamad Al Thani may have shot himself in the foot on his quest to acquire the club. The prominent Qatari banker’s camp have repeatedly signalled to the Glazers that their final offer is on the table, only to then up the stakes.
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United’s controversial owners have entertained a takeover process spanning nearly a year. Neither Sheikh Jassim nor fellow bidder Sir Jim Ratcliffe have met the Glazers’ £6billion asking price.
Red Devils fans are desperate for the billionaires to leave Old Trafford amid fierce criticism for saddling the club with debt and leading poorly from the top. But the Glazers are seemingly prepared to block out the noise until they receive their desired price tag.
Sheikh Jassim may only have himself to blame in that regard. The Qatari, who has promised massive investment in the club if his takeover proposal is accepted, has repeatedly tabled ‘final offers’ that are later increased.
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Sheikh Jassim bin Hamad Al Thani
Sheikh Jassim bin Hamad Al Thani remains in the running to buy Man Utd (Image: Twitter: @FabrizioRomano)
Reports indicate that during negotiations with the Glazers and Raine Group, the bank overseeing the sale, Sheikh Jassim’s camp dished out the same ultimatum after their third, fourth and fifth bids were submitted.
Given that the threat of a ‘final bid’ is yet to come with any substance, it seems natural that the Glazers will sit tight and wait for more money to be slapped on the table until their financial demands are met.
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Sheikh Jassim and Sir Jim are believed to be hesitant about increasing their offers due to the notion that their current bids already place United significantly above market value. The takeover hopefuls are also said to be put off by United’s concerning start to the season.
The Glazers backed manager Erik ten Hag with a raft of new signings during the summer, including the likes of Rasmus Hojlund, Mason Mount and Andre Onana. But United have responded by losing three of their first six Premier League matches.
The Glazers
The Glazers want £6billion to sell Man Utd (Image: Getty)
More funds may therefore be needed to improve the squad before United can compete with Arsenal and Manchester City. And that’s not to mention the cash required to revamp the club’s outdated infrastructure.
Ten Hag did manage to restore a sense of optimism on Saturday night by leading his side to a 1-0 win over Burnley, with Bruno Fernandes’ superb volley sealing the three po
ints and temporarily sending United up to eighth.
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