Qatar billionaire Sheikh Jassim wins bid to buy Man United

Qatar billionaire Sheikh Jassim wins bid to buy Man United 

Qatar’s Sheikh Jassim bin Hamad al-Thani has reportedly won the race to buy Manchester United club.

The Premier League giants are however yet to confirm who their new principal owner will be.

The current chiefs the Glazer family will decide on a preferred bidder this week.

Sheikh Jassim, an uber-wealthy Qatari banker, has been competing with INEOS chief executive Sir Jim Ratcliffe for the best part of eight months in the battle to buy Man United.

Ratcliffe, a boyhood United fan, had wanted to purchase around 60 per cent of the club.

His offer comes with a proposal that would allow the Glazers to remain for a set time period ahead of a sourced buyout.
The Glazer family originally valued the club at £6 billion after it went on the market.

The chairman of Qatar Islamic Bank last week submitted a fifth and final offer to buy the 20-time English champions and, according to Al-Watan newspaper, has been chosen by United’s current owners the Glazers as their preferred bid.
Al-Watan posted on Twitter on Monday night that Sheikh Jassim’s takeover bid has been a “success” and that an official announcement was imminent.
While details have not been disclosed, UK media reports say Sheikh Jassim’s final bid submitted on June 7 was £5 billion for total control of United.
The offer includes clearing a £1 billion debt and a fund solely for the club and surrounding community, according to an earlier report.