Man Utd takeover: Sheikh Jassim ‘could buy’ another Premier League club as ‘£5.5bn’ bid submitted

Sheikh Jassim bin Hamad Al Thani has submitted a £5.5bn bid for Manchester United as he seeks to complete a 100 per cent takeover of the club.

According to a number of reports, the Qatari investor made the late offer with suggestions Sir Jim Ratcliffe was the preferred bidder. The Qatari banker’s offer is “take it or leave it” suggesting he will pull out of the race if he sees the bid knocked back.

The bid includes £1bn to clear United’s debt and includes a separate fund which will be used to boost the club and local community.

Ratcliffe, the chairman and chief executive officer of INEOS, is said to have offered less money for a 51 per cent stake in the Old Trafford outfit, with the Glazers set to retain a stake in the club in the event Ratcliffe becomes majority owner.

Ratcliffe has already been in contact with Raine Group, who are overseeing the sale and it remains to be seen if Sheikh Jassim’s can sway the Glazers to relinquish full control of the club.

The American investors were seeking £6bn for a full takeover and a decision on the takeover may not come until the end of the Premier League season, with no indication on when the matter will be resolved.

Amid reports Ratcliffe is the preferred bidder, there has been suggestions Sheikh Jassim could turn his attention to another Premier League club.

ESPN journalist Mark Ogden told The United Stand: “They want the Premier League footprint. Somebody told me recently, they said that if the Qataris don’t buy Manchester United, they’ll be back and they might end up buying Tottenham.

“He said, look, if you’ve got Manchester City owned by Abu Dhabi, you’ve got Newcastle owned by Saudi Arabia, if Qataris maybe buy Tottenham, then you’ve got three clubs who can pull away.

“Every year, it would be United, Liverpool, Chelsea and Arsenal fighting for fourth spot, which is quite a terrifying prospect for [them].”