Sheikh Jassim will not ‘walk away’ from the Manchester United takeover race, even if the club fail to make a decision on his fifth proposal to purchase the club by Friday’s deadline.
Sheikh Jassim – the chairman of Qatar Islamic Bank (QIB) and a member of the Qatari royal family – first made an official bid to buy the Red Devils in February, before submitting a fifth offer for the club this week. The latest proposal was viewed as a ‘take-it-or-leave-it offer’ and came alongside a Friday deadline for a decision.
However, contrary to the reports earlier this week, Sheikh Jassim will not walk away from the race if United’s ownership fail to answer his offer on Friday.
The Guardian are reporting that the Qataris will not pull out of the running until a final decision has been made, despite frustration with a process that began in November and has since seen five offers submitted.
The chief competition for Sheikh Jassim comes from Sir Jim Ratcliffe, whose offer is for a 51% controlling stake in the club. The proposal from the British billionaire would see Joel and Avram Glazer – two of the six siblings who own the Red Devils – retain a stake in the Premier League side and there has since been talk of all six Glazer siblings retaining some form of stake at Old Trafford.
As with previous offers, the Qatari bid is for full control of the club and any deal is set to break the world-record fee paid to acquire a professional sports team.