MarketWatch has learned that Sheikh Jassim submitted his fifth and final bid to buy Manchester United last week.
Manchester United shares ended Tuesday’s session up 13.8%, hitting a two-month high following a report that Qatar’s Sheikh Jassim bin Hamad al-Thani is set to be announced as the preferred bidder.
The report came Monday from Qatar’s Al-Watan newspaper. Sheikh Jassim has been battling British billionaire Sir Jim Ratcliffe for control of the club after the controlling Glazer family said they would consider selling. Manchester United declined to comment on this story. MarketWatch has learned that Sheikh Jassim submitted his fifth and final bid for Manchester United last week. As before, the bid is for 100% of the club, would clear Manchester United’s debt and has separate additional funding purely for the club’s ongoing player, infrastructure and other investment needs.
This is a crucial juncture for Manchester United, with the Premier League transfer window for signing new players set to open on June 14 and close Sept. 1. Fans are eager to see how any takeover developments will affect Manchester United’s ability to make key player signings.The protracted takeover battle for the iconic English soccer club is now in its eighth month. Sheikh Jassim and Ratcliffe, the chief executive of the chemical giant Ineos, have made rival bids for Manchester United.
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