Sheikh Jassim bin Hamad Al Thani will make a world-record bid to buy Manchester United tonight, according to Sky Sports.
The Qatari banker is sure his bid will blow Sir Jim Ratcliffe‘s offer out of the water. Bidders have a 9.00 pm deadline to submit a revised offer for the club.
Al Thani’s bid will reach £5.5 billion, which is £1bn more than his first offer and would be a world-record fee for a sports club.
The Raine Group, the bank that handled Chelsea’s sale, is organising the United takeover. They expect at least five bids to be made by the deadline tonight.
Not all of those bids are to buy United outright. Some bidders want to buy a minority stake in the club, while others want to provide financing options to buyers.
This financier category includes Elliott Management, Ares, MSD Partners and Oaktree Capital. The Raine Group will assess all the offers over the next week before taking the next step.
Man United invited the prospective new owners to Old Trafford and the club’s Carrington training complex last week.
They spoke about the sporting and financial side of the deal to buy the club. Those talks reportedly went well with both parties.
There will likely be a last round of bids as current offers still fall below the Glazer family’s £6bn asking price. It is unclear if there are any favourites to buy the club.
However, there remains the issue of the Glazers selling. The family members have still not decided whether to sell all their shares in the club outright or a minority stake.
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