Sunday, May 26, 2024

Sheikh Jassim presents fully cash bid for Manchester United

Sheikh Jassim has presented a full cash bid to buy 100% rights of Manchester United with a further offer to clear all existing debts at the club.

“Sheikh Jassim has presented fully cash bid, clearing all old debt, with zero new debt, for 100% of the Club.” said Fabrizio Romano

The Glazers family have already been informed on the new development but once again they have turned down the offer.

Sheikh Jassim has already confirmed his plans to withdraw from the deal as his team declined to discuss the new development.

“Sheikh Jassim’s bid proposition has been rejected again by Glazers family. As a result — Sheikh Jassim informed Glazers that he’s ready to withdraw from the process.

Sheikh Jassim’s team decline to comment on this news citing “confidentiality restrictions”, but have confirmed they’ve withdrawn from the process.” said Fabrizio Romano

It is understood that the final offer made is almost double of the $3.5B market valuation with a planned $1.5B extra investment as planned

As at now, it is not clear who are what the Glazers family are planning to sell the club to despite growing pressure to change things at the club that has declined in performance over a couple of years.

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