By Victor Kanayo
A Qatari billionaire Sheikh Jassim bin Hamad Al Thani has reportedly won the race to buy Manchester United.
This was disclosed on a Qatari news site Al-Watan on Monday night via its Twitter handle.
Qatari Bidding Success
Specifically, the news platform said the takeover bid has been a “success” and that an official announcement was imminent.
Sheikh Jassim had been locked in a bidding war with British billionaire Sir Jim Ratcliffe for control of ownership of the Premier League giants after fans expressed loss of confidence on the current owners of the club Glazers.
Sheikh Jassim, who is the Chairman of Qatar Islamic Bank had submitted a fifth and final offer to buy the 20-time English champions.
United Twist And Turn
United fans had been hoping for a quick resolution of the club’s ownership as the team seem to have turned a corner this season.
Under new manager Erik ten Hag, United won the League Cup, their first trophy in six years, finished third in the Premier League and narrowly lost out to Manchester City in this month’s FA Cup final.
While the financials of the bidding have not been disclosed, UK media reports said Sheikh Jassim’s final bid submitted on June 7 was £5 billion for total control of United.
United Initial Offer
The offer includes clearing a £1 billion debt and a fund solely for the club and surrounding community, according to an earlier report in The Guardian newspaper.
Ratcliffe, the chief of Ineos group and a boyhood United fan, had wanted to purchase around 60 per cent of the club.
His offer comes with a proposal that would allow the Glazers to remain for a set time period ahead of a sourced buyout.
