Man United News: Sheikh Jassim's £5bn offer remains on table but concerns Glazer family will not sell

In Man United news, Sheikh Jassim still wants to buy the Red Devils and his £5bn offer for the club remains on the table.

Avignyan Mukhopadhyay
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Man United News | sportz point

In Man United news, Sheikh Jassim still wants to buy the Red Devils and his £5bn offer for the club remains on the table.

But sources close to the Qatari bid believe the process has stalled amid concerns the Glazer family are not sure they want to sell.

Sheikh Jassim has made five bids to buy United, making his final offer to buy 100 per cent of the club in a debt-free deal 11 weeks ago on June 7.

British billionaire Jim Ratcliffe has made rival bids to buy 69 per cent of the club owned by the Glazer family in a phased takeover.

Sheikh Jassim's bid team are aware of reports he is close to buying Manchester United, but as far as he is concerned the situation has not changed.

Sheikh Jassim is not going away but ultimately it is up to the Glazers to decide if they actually want to sell the club.

The longer the process drags on the more it costs the bidders as they all have to pay bankers, advisers and lawyers. However, the bidders are ready to move quickly if the Glazers decide to sell.

As far as transfers are concerned, the Qatari bid has never identified any targets or talked about potential signings because their focus has been solely on buying United.

However, the window would have been different for United if the club had been sold and still can be in the future.

Sheikh Jassim remains committed to wiping out United's debts, investing in infrastructure, the men's and women's team and the academy.

in other Man United News, senior figures in the football department at United are in the dark about what is happening with the takeover.

They would welcome a conclusion to the process as soon as possible and the Qatari bid has support within the club.

The Glazers announced in November last year they were considering selling the club.

In a statement, United said their owners would look at options to bring in new investment including "a sale or other transactions involving the company".

 Man United News | Shiekh Jassim | sportz point

Shiekh Jassim (Image- Sky Sports)

The Glazers bought United in a controversial £790m leveraged buyout in 2005, which involved borrowing more than £500m and loading their debt on to the club.

Servicing that debt has cost United more than £1bn, while United's latest accounts revealed the club's debt stands at £725m.

In other Man United news, Sir Jim and Sheikh Jassim publicly confirmed initial offers in February. The third and final round of bidding concluded on April 28 but, with reports claiming a revised offer from Ratcliffe and INEOS had put them in pole position to acquire United, Sheikh Jassim moved again.

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