Sheikh Jassim drops earth breaking bid for Manchester United

Qatari billionaire Sheikh Jassim has submitted a world record-breaking bid of £5 billion to take over Manchester United, according to Sky Sports. The 63-year-old reportedly made his offer just minutes before the 10 pm deadline on Friday, as part of the third round of bidding for the club.

Sheikh Jassim’s bid is for 100% control of the club and would make United debt-free. Additionally, it includes funding to strengthen the squad, improve the stadium infrastructure, and invest in the local community. The Sheikh’s associates have reportedly told Sky Sports that they believe this is the best bid and that no other bid comes close.

Chief reporter Kaveh Solhekol revealed to Sky Sports News that the offer is believed to be exceptional, as it will see the Glazer family make an enormous profit if they accept it. However, it remains unclear if the Glazers are seriously considering selling the club.

They have owned United since completing their takeover in 2005, with much of the club’s success attributed to the management of Sir Alex Ferguson. Nonetheless, the Glazers’ ownership has been highly controversial due to the fact that they purchased the club with hundreds of millions of pounds worth of debt. This debt has been transferred to the club and has caused discontent among the fans.

Despite investing very little of their own money into the club, the Glazers have spent considerable sums on transfers, leading to claims that they have taken profits out of the club through dividends. There has been a history of protests by United fans against their ownership. Even during the club’s 2008 European championship victory, fans were unhappy with the Glazers.

The bidding process for the club has been complicated by reports that two members of the Glazer family, Avram and Joel, wanted to maintain a stake in the club. This led to three rounds of bidding and a prolonged process, amid rumors that the Glazers preferred minority investors to buy part of the club.

However, Friday’s deadline reportedly did not include the potential of such investors and was only for Sheikh Jassim and Sir Jim Ratcliffe, who made the other outright bid.

The Nice owner, who is a childhood season ticket holder at United, has reportedly offered the Glazers the opportunity to keep a minority share with his bid. His bid was also confirmed by Sky Sports on Friday night. It remains to be seen whether the Glazers will accept either of the bids or choose to retain their ownership of the club.