The future of Manchester United is hanging in the balance as Sheikh Jassim bin Hamad al-Thani has submitted his final bid for the club. The Qatari businessman has made his fifth bid to the Glazer family and the Raine Group, the American bank working on behalf of the Glazers.
Sheikh Jassim has set a deadline of Friday for the Glazers and the Raine Group to make a decision. The offer will not be part of the process beyond Friday (June 9), giving the Glazers and the Raine Group three days to make a decision.
The Takeover Saga
The Qatari consortium, headed by Sheikh Jassim, made their first offer in February. However, they are now seeking a quick resolution as they are keen to take control at Old Trafford before the start of the summer transfer window on June 14.
The Glazers also have an offer from British billionaire Sir Jim Ratcliffe, chairman of chemical company INEOS. Sheikh Jassim wants to buy 100% of United while Ratcliffe has lodged an offer that would see him hold 51% of the shares while allowing co-chairmen Joel Glazer and Avram Glazer to keep a stake.
Impact on the Club and the Manager
The takeover saga has raised concerns for Erik ten Hag, the manager of Manchester United. Ten Hag is growing increasingly concerned about the impact the takeover could have on the rest of his transfer plans. He remains in the dark about the size of the summer budget and has been concerned at the lack of information passed down from the board.
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