Sheikh Jassim lodges huge new Manchester United bid three weeks after deadline
Qatar's Sheikh Jassim bin Hamad al-Thani has made a huge and final 'take it or leave it' offer to buy Manchester United, reportedly woth close to £5billion.
The offer, Sheikh Jassim's fourth, is for 100 per cent of the club, would clear United's debt of nearly £1bn and includes a separate fund directed solely at the club and local community should the takeover bid prove a success.
The offer still falls short of the Glazer family's £6bn valuation.
The Times report that Sheikh Jassim's main rival for United, British billionaire Sir Jim Ratcliffe, has not improved an offer submitted in April, which values United at a higher price but is not for the whole club and would give Glazers chance to keep their 20% stake.
News of the improved offer saw United's shares rise by up 1.2% on the New York Stock Exchange at close on Tuesday.
Sheikh Jassim is the chairman of Qatar Islamic Bank, one of the Gulf state's biggest banks and his father, Hamad Bin Jassim Bin Jaber Al Thanim is a former prime minister of the country.