Reports have it that Sheikh Jassim has submitted an improved bid in his pursuit to acquire Manchester United from the Glazer family.
This comes after both Sheikh Jassim and his rival, Sir Jim Ratcliffe, had previously submitted what was expected to be their final bids for the club last month.
In an effort to strengthen his position amidst growing confidence in the Ratcliffe camp, Sheikh Jassim has raised the value of his offer. The offer, which remains for the complete ownership of the club, includes provisions to clear all existing debts and also features a separate fund dedicated to the club and its community.
The ongoing takeover situation has left officials and staff at Old Trafford seeking clarity. The process began in November when Manchester United announced their exploration of “strategic alternatives” to enhance the club’s growth, including the possibility of a full sale.
Sheikh Jassim was the first potential buyer to publicly confirm his bid during the initial round in February, followed shortly by Ratcliffe, the owner of INEOS and a Manchester native.
The first quarter of this year was initially regarded as a crucial period in a prolonged process that has threatened to overshadow Manchester United’s pursuit of a Champions League qualification spot.
February’s soft deadline was followed by a second deadline in March for those that progressed, with Raine Group, brought in to oversee the sale, then asking interested parties for their third and final bid on April 28.
United fans have made clear their desire for a full buy-out from the Glazers, who have been unpopular since their leveraged takeover of the club in 2005.