Siddharth Juyal
Sheikh Jassim bin Hamad al Thani and Sir Jim Ratcliffe maintain an unwavering desire to acquire Manchester United.
Sky Sports reports that Sheikh Jassim bin Hamad al Thani and Sir Jim Ratcliffe maintain their interest in purchasing Manchester United, despite the sale process dragging on for nearly a year.
Sheikh Jassim and Ratcliffe have made a bid for United at around £5bn but the Glazers are demanding higher value.
The Glazer family issued a statement to confirm that they were open to offers from Manchester United last year in November.
Sheikh Jassim is the chairman of Qatar Islamic Bank (QIB), which is one of the biggest banks in the Middle East. He is also a member of the Qatari royal family that has a collective net worth of around £275bn.
Ratcliffe, on the other hand, is the chairman and chief executive officer of the INEOS chemicals group. His estimated net worth is around £30 billion, making him the second wealthiest person in Britain. One source from Sky Sports claimed:
“The longer they demand more money, the more the very asset they are trying to sell is being devalued.”
The Daily Mail reported earlier this September that the Glazers are holding out for a £10bn valuation. The report also stated that the Glazers would take United off the market if the valuation is not met. After the Mail report emerged, United’s share price plunged by 18.2 per cent.
We don’t know how much of this saga has affected on-field performance for the Red Devils. The club had a nightmare start to the season, losing three Premier League games out of the five they have played so far.
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Rest assured, United fans will be hoping that the takeover saga ends with Glazer leaving the club at the hand of someone they can respect and form better connections with. The Red Devils faithful have protested the Glazers since they assumed full control of the club back in 2005.
