Sheikh Jassim submits NEW bid for Man Utd and sets DEADLINE for final negotiations

Sheikh Jassim bin Hamad al-Thani has submitted a new bid in his efforts to buy Manchester United from the Glazer family but has set a deadline for negotiations on the offer.

This major breaking news comes from Mike Keegan of the Daily Mail, who has been a leading journalist in the takeover saga at Old Trafford.

Sheikh Jassim, who has now made his fifth bid for the club, promised to return United ‘to its former glories both on and off the pitch’ back when confirmation of his interest came in February.

Now, as Keegan writes, Sheikh Jassim has made a ‘major power move’ by submitting a new offer directly to the Glazer family and the Raine Group, the American bankers handling the deal. However, the total amount still does not meet the Glazers’ valuation of £6 billion.

It was added that Sheikh Jassim has told those involved in the saga that he will engage until Friday and thereafter he will no longer negotiate further with his fifth and final bid for the club left on the table. This is also what he has communicated with Raine Group.

However, The Times have reported conflicting information, saying that Sheikh Jassim will withdraw completely from the process if his bid is not accepted by Friday.

That report added that Sir Jim Ratcliffe, who is challenging the Qataris in the bidding war, and his petrochemicals firm, Ineos, have emerged as clear favourites to complete a deal with the club’s owners and have entered the final stages of negotiations with Raine, the New York bank handling the sale.

The need to strengthen Erik ten Hag’s squad has played a major role in Sheikh Jassim’s new bid, according to Keegan. He is keen to complete the takeover and arm Ten Hag with significant funds ahead of the 2023/24 season.

The Manchester United manager has just completed his first season with the club. United finished third in the Premier League table and got to finals in both domestic cup competitions – winning one and losing the other.

Whilst improvements have been made at Old Trafford, there is still lots of work to improve on and Ten Hag has recently cited the importance of strengthening in the transfer market.

United are after several big names including Harry Kane and Mason Mount, however, the extent in which the club can flex their muscles in the market could depend on who the new owner of the club will be and when he comes in.