Qatar's Sheikh Jassim bin Hamad al-Thani reportedly 'wins' takeover race to buy Manchester United club

 

Qatar's Sheikh Jassim bin Hamad Al Thani has won the race to buy Manchester United, according to a report on a Qatari news site.


Sheikh Jassim had been locked in a bidding war with British billionaire Sir Jim Ratcliffe for control of ownership of the Premier League giants.

The chairman of Qatar Islamic Bank last week submitted a fifth and final offer to buy the 20-time English champions and, according to Al-Watan newspaper, has been chosen by United's current owners the Glazers as their preferred bid.



Al-Watan posted on Twitter on Monday night that Sheikh Jassim's takeover bid has been a "success" and that an official announcement was imminent.

While details have not been disclosed, UK media reports say Sheikh Jassim's final bid submitted on June 7 was £5 billion for total control of United.



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 percent 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.



The Glazer family originally valued the club at £6 billion after it went on the market.



Al-Watan's report that a decision by the Glazers will be announced soon will bring to a close one of the most protracted takeovers of a football club in recent times.