Qatari businessman submits new bid for Manchester United | UK News
Qatar’s Sheikh Jassim bin Hamad has submitted a new improved bid to Manchester United ahead of time for a second bid, Sky News has learned.
Sheikh, president of Cata Islamic Bank (QIB), has bid for the second time for Manchester United after his representative came to visit Premier League club last week.
It was previously understood he would not pay too much odds for the club, whose current owners the Glazer family are believed to be worth £6billion.
But the Sheikh’s position is said to have softened after a Qatari delegation visited Old Trafford in recent days, with negotiations lasting 10 hours.
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Sky News understands there could be up to seven other bids made before today’s deadline for Monday offers.
British billionaire Sir Jim Ratcliffe, through his chemical company INEOS, is also expected to make a second offer to the club following a visit last week.
A delegation from INEOS spent six hours attending meetings and touring the club’s Old Trafford stadium and its Carrington training ground.
But another option for the Glazer family is a deal in which they can keep control of United by agreeing to a minority deal.
Sir Jim Ratcliffe, who owns French club Nice, hinted that he would not overpay the club’s odds.
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He told the Wall Street Journal: “How do you decide the price of a painting? How do you decide the price of a house? It has nothing to do with construction costs or how much it costs to paint. .
“What you don’t want to do is pay stupid prices for everything and then regret it later,” he said.