Sports

Sheikh Jassim, Ratcliffe make final bids for Man United

Published

12 months ago

April 29, 2023

Sheikh Jassim, Ratcliffe make final bids for Man United

Qatari banker Sheikh Jassim bin Hamad Al Thani and British billionaire Jim Ratcliffe made their third and final offers to buy Manchester United on Friday.

Sheikh Jassim is in a bidding war with Ratcliffe after the pair emerged as the main contenders to buy the Premier League club from the Glazer family.

While Sheikh Jassim’s latest offer is reported to be over £5 billion ($6.2 billion), the size of Ratcliffe’s improved bid was yet to be made public when Friday’s deadline for the third round of bidding passed at 2100 GMT.

Sources said Sheikh Jassim’s bid for 100 per cent control of the club comes with the promise of significant additional funding for transfers and infrastructure.

The spending would include either redeveloping United’s outdated Old Trafford stadium or building a new ground, along with overhauling the club’s training facilities.

Sheikh Jassim’s bid also promises to erase United’s $620 million debt.

INEOS chemical company founder Ratcliffe, a boyhood United fan who failed in his attempt to buy Chelsea last year, reportedly wants to purchase a controlling stake in United of more than 50 per cent.

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That would allow United’s executive co-chairmen Joel and Avram Glazer to remain as shareholders with a 20 per cent stake, which has raised concerns among a fanbase tired of the Americans’ controversial reign.

The Glazers reportedly want a world record £6 billion fee for a sports club before they agree to sell the Old Trafford outfit, raising the possibility they might not accept either Sheikh Jassim’s offer or Ratcliffe’s approach.

Deeply unpopular with supporters since they saddled the club with debt in a £790 million leveraged takeover in 2005, the Glazers appeared ready to cash out at an enormous profit when they first invited external investment in November.

However, Elliot Investment Management and The Carlyle Group are among the private equity firms in the market for a minority stake that could allow the Glazers to retain control and provide the funding for investment in the club’s infrastructure.

Avram and Joel Glazer are reportedly keen to hold on to their stakes in United, while siblings and fellow directors Kevin, Bryan and Edward Glazer and Darcie Glazer Kassewitz are open to offloading their shares.

Offers from the last round of bidding, a process run for the Glazers by New York merchant bank the Raine Group, were believed to have been worth a maximum of £5 billion.

That would have smashed the Premier League record of £2.5 billion paid for Chelsea last year by a consortium led by Los Angeles Dodgers co-owner Todd Boehly and private equity firm Clearlake Capital, with a further £1.75 billion promised in investment in infrastructure and players.

Related Topics:Man United Ratcliffe Sheikh Jassim

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Liverpool crash out of Europa as Ademola Lookman’s Atalanta win 3-1 agg

Published

23 hours ago

April 19, 2024

Trends Admin

Liverpool crash out of Europa as Ademola Lookman’s Atalanta win 3-1 agg

Italian Serie A side, Atalanta, on Thursday night knocked out Liverpool from the quarter final stage of the Europa League, with 3-1 goal aggregate.

Liverpool were eliminated from the Europa League despite beating Atalanta 1-0 in Bergamo, Italy via Mohamed Salah‘ lone seventh minute penalty goal.

The 3-0 deficit from the first leg at Anfield last week Thursday had done enough damage.

Nigerian international, Ademola Lookman, made a 80th minute appearance during the game.

Trent Alexander-Arnold cross was handled in the box to give Liverpool hope of upturning the deficit but that was not to be.

As the first half drew to a close, the Egypt forward lofted well wide when put through one-on-one, but Klopp’s side struggled to create meaningful openings in the second period.

It marks the end of a difficult 12 days for the Reds, who drew at Manchester United and lost at home to Crystal Palace to surrender their lead at the top of the Premier League.

Attention will now turn back to the title race with Liverpool sitting third behind second-placed Arsenal and two points off leaders Manchester City.

The league now represents their final chance to give Klopp a fairytale ending to his eight and a half years on Merseyside and add to their success in the Carabao Cup in February.

Sports

Europa: Martinez two penalty saves power Aston Villa into S’final

Published

23 hours ago

April 19, 2024

Trends Admin

Europa: Martinez two penalty saves power Aston Villa into S’final

Aston Villa on Thursday qualified for their first major European semi-final since 1982 with a dramatic victory on penalties over Lille in the Europa Conference League.

According to a THISDAY report, an extraordinary shootout after the tie ended 3-3 on aggregate after extra time, Villa keeper Emiliano Martinez – who had been booked earlier for time-wasting – was shown another yellow card for appearing to gesture to home fans.

Martinez, who had already kept out Nabil Bentaleb’s attempt, was allowed to carry on as his initial booking was not carried over into the shootout.

The Argentina World Cup winner then went on to keep out Benjamin Andre’s attempt as Villa won 4-3 on penalties to advance to the last four.

Matty Cash’s late goal in the 87th minute forced an extra 30 minutes after Yusuf Yasici opener in the 15th minute and Benjamin Andre’s 67th strike had seen Lille come from a 2-1 deficit from the first leg to lead the tie 3-2.

But nothing could separate the sides after 210 minutes and two legs, needing penalties to decide the quarter-final.

And it was marred in confusion. Martinez – who saved two spot kicks to send Aston Villa through – had already been booked in the first half for time wasting, and was shown another yellow card during the shootout.

Ever the performer, Martinez had ‘shushed’ the crowd after saving from Remy Cabella, leading to objects being thrown at him. He then gestured again to them, appearing to ask them to stop, and then was booked.

It left many wondering why the accumulation of two yellows did not result in a red. However, rules of the competition state that no yellow cards from the game carry over into shoot-outs, and therefore Martinez was not sent off.

He continued to take part in the penalty shootout, saving the final spot kick from Andre and seeing Aston Villa into their first European semi-final since 1982.