Sheikh Jassim has renewed his offer to the Glazer family, the club’s existing owners, to buy the business outright through his Nine Two Foundation.
The Glazers and American investment bank Raine Group, who have been overseeing the potential sale process the entire time, had received the bid.
Sheikh Jassim has set a deadline of Friday to find out from United whether or not his offer is accepted, which is the only one that would result in them acquiring 100% of the club.
Sir Jim Ratcliffe and his Ineos Group are now the front-runners to acquire ownership of the team; under their plan, current co-chairmen Avram and Joel Glazer would continue to serve as board members. While Ratcliffe’s offer does not want complete ownership, it does value the club more than Sheikh Jassim’s, who has set a £6 billion price on it.
The Glazers have yet to declare whether there is a preferred bidder in the process, despite having initially stated in November of last year that they were thinking about selling the club and/or looking for investment.
Although a decision has not yet been made, many consider Ratcliffe’s Ineos Group to be the front-runners, even in light of Sheikh Jassim’s new bid, which was due on April 28.