Qatari Banker Sheikh Jassim bin Hamad Al-Thani Submits Improved Bid to Buy Manchester United

In the latest development of the ongoing Manchester United ownership saga, sources close to ESPN have confirmed that Sheikh Jassim bin Hamad Al-Thani has submitted an improved bid to acquire the club.

Though Raine Group’s deadline has already elapsed, all bidders were given extra time, which allowed Sheikh Jassim to submit his second offer overnight on Friday (UK time).

The Glazer family, the current owners of Manchester United, together with Raine Group, will consider Sheikh Jassim’s proposal along with Sir Jim Ratcliffe’s second bid and Finnish businessman Thomas Zilliacus’s offer.

What’s Next for Manchester United?

Sources who have insight on the matter say that bidders should not expect an immediate response to their offers. Raine Group has the option to demand third bids, or if all second bids are deemed inadequate, name a preferred bidder.

United staff have been informed that the ownership matter will be resolved by the end of this season; this is in keeping with the Glazer family’s statement in November which confirms their exploration of “strategic alternatives,” such as complete divestment or minority investments.

In addition to the aforementioned bids, several US-based hedge funds like Elliot Investment Management have also submitted investment proposals.

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Stay tuned for further updates as the story progresses.