Sheikh Jassim, despite initial setbacks, kept increasing his offer until the Glazers committed to a full sale of the club
Manchester United owners, the Glazer family have accepted Qatari banker, Sheikh Jassim’s £6billion offer to buy the Premier League club.
According to UK Sun, the offer was finally accepted after over nine months of negotiations.
The Glazers had initially claimed they were “exploring strategic alternatives” in November 2022.
The bidding process has been whittled down to two bids – Qatari-backed Sheikh Jassim and Ineos founder Sir Jim Ratcliffe.
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The Glazers have been weighing up the two offers, with Ratcliffe’s bid favoured by Joel and Avram, as it would have allowed them to retain their shares.
But Sheikh Jassim kept increasing his offer and the Glazer siblings have at last managed to all agree and will commit to a full sale of the club.
Sheikh Jassim will buy 100 per cent of the club and will also wipe out the gross debt of £725million that was racked up over the Glazers’ stewardship of United.
The Qatari banker’s team are currently completing due diligence on the club before the takeover can be rubberstamped, with the deal likely to be completed around mid-October.
With the acceptance of the bid, the Glazer family’s controversial 18-year reign at Old Trafford is set to come to an end.
