Qatari banker Sheikh Jassim bin Hamad Al-Thani has submitted an improved takeover bid for Premier League club Manchester United, sources confirmed on Sunday. The offer has been made ahead of the 9 P.M. deadline on Wednesday set by the Raine Group; the capital market firm tasked with facilitating the sale of the club.
Sheikh Jassim’s offer is believed to have been submitted on Friday night UK time and will now be reviewed by the Raine Group as well as the Glazer family who currently own the majority stake in Man Utd. According to sources, Jassim and the other competing bidders are not expecting immediate responses from the Raine Group and the Glazers following the submission of their bids.
British billionaire Sire Jim Ratcliffe, the founder, CEO, and chairman of chemical company INEOS, is also in the running for the takeover of the Red Devils, as if Finnish businessman Thomas Zilliacus.
Following the second round of bidding, the Raine Group could announce an additional round or select a preferred bidder.
