Qatar’s Sheikh Jassim bin Hamad Al-Thani has increased his offer to buy Manchester United, submitting a new and improved bid on Tuesday, 17 May.
The Qatari prince and banker entered a world-record bid to buy the club during the third round of deliberations which ended in April but is said to have now elevated his offer to between £5-5.5 billion, with Raine Group receiving the improved proposal on Tuesday morning.
Whilst this figure is still short of the Glazer family’s £6bn valuation, it is now thought to be the strongest offer and comes after a number of reports that main takeover rival, Sir Jim Ratcliffe and his INEOS Group, were leading the race thanks to a revised offer of their own.
This is Sheikh Jassim‘s fourth bid overall, with the buyout process officially beginning back in February and the third round of bidding concluding on 28 April. Should this improved offer be accepted, it will be for 100% control of the club and will see their debt cleared.
BREAKING: Qatar's Sheikh Jassim has made an improved offer to buy 100% of Manchester United 💰pic.twitter.com/H9vjW8yHzS
— Sky Sports Premier League (@SkySportsPL) May 16, 2023
Part of the reason Ratcliffe was said to be the favourite to secure Man United’s sale was that his offer reportedly offered the Glazers a chance to remain part of the club by allowing them to keep a 20% minority stake.
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However, United fans have made their feelings more than clear: they want a full sale only and for the Glazers to sever all ties with the club. Since acquiring the Red Devils through a controversial leveraged buyout back in 2005, the club has now accrued £969.6m in debt as of March 2023.
Moreover, part of the concerns surrounding the alternate bid is that although the Failsworth-born businessman is a billionaire and has experience overseeing sports franchises as the owner of OGC Nice and Team Sky cycling, it is thought he may not be able to fully finance the takeover himself.
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On the other hand, with virtually an entire nation’s sovereign wealth behind him, Sheikh Jassim’s bid won’t require any borrowing and beyond clearing the club’s debt, is said to include separate funds to spend on the club, help redevelop the stadium and training ground, as well as invest in the community.
Financing aside, the only thing seemingly standing in Sheikh Jassim’s way is the controversy surrounding Qatar’s human rights record which became ever more prominent following the World Cup and whether or not the current American owners are enticed by the possibility of keeping some stake in the club.
At present, the Glazers have given no indication as to when a deal might be accepted or if the last two offers will indeed be the final round of bidding — revised offers from both of the frontrunners would suggest otherwise.
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Nevertheless, supporters are remaining vocal that the Glazers’ time is up and they want rid, especially with the football back on the up under Erik ten Hag.
If this doesn’t sum up the lasting sentiment they’d like to part on, we don’t know what does:
Blok Manchester has announced its permanent closure, weeks after the doors to the premium fitness facility mysteriously closed.
Around a fortnight ago, members began to arrive to their classes to find the gym on Ducie Street locked up and a forfeiture notice on the door – but at the time, Blok said that it was fighting to reopen.
Sadly, in an email sent to members today, its founder has confirmed that the studio is now permanently closed.
Blok – which has several very successful sites down in London – said that its relationship with its landlord has ‘broken down to a point where trust has been lost’.
The gym wrote that it’s been left with ‘no workable way forward’.
They said: “BLOK Manchester was a space built by our loyal and dedicated community. Whether you joined us for one class or one hundred, we are deeply grateful. You helped create something genuinely special in an incredible city.”
In the immediate future, they said they’ll be supporting the team of fantastic trainers who worked here, as well as looking after members.
Members will be contacted within a few hours with options and refunds owed.
Blok Manchester has announced its permanent closure. Credit: The Manc Group
CEO and founder Ed Stanbury said: “While this marks the end of a chapter, we don’t see it as the end of our story in Manchester. We’re already speaking with developers about potential future sites and remain committed to returning to the city when the time is right.
“Thank you for being part of our story so far. Let’s shape the future of wellness. The mission continues.”
Commenting on Blok’s Instagram post – its first in almost a fortnight – people have been sharing their sadness at the closure of its Manchester site.
One person wrote: “beautiful space, beautiful staff and beautiful community.”
Another said: “Sending love to all the instructors !! :(((( gutted”
Someone else commented: “THE BEST CLASSES. I’m gutted.”
Manchester City are set to embark on somewhat of a spending spree this summer transfer window as the club’s higher-ups are looking to get business done before the 2025 Club World Cup.
With FIFA’s intercontinental club competition set to get underway in mid-June, the Blues don’t have too long to welcome in new players, but Man City chairman Khaldoon Al Mubarak has reiterated their urgency regarding recruitment.
Despite having brought in four new acquisitions in a very short space of time last season, the 50-year-old argued that he wasn’t completely happy with the extent and speed of their business.
Giving a lengthy interview this week, CFG‘s founding chairman has imposed an internal deadline ahead of the lucrative knockout competition.
Speaking with club media, Khaldoon recognised that while there were incomings in January of this year, he believes they “should have been more aggressive in some of the changes we needed to do, adding that he believes it “cost [them].”
“I can tell you today, we have clearly identified who exactly [the targets are], in what positions, and we have our clear number one option, our clear number two option”, he continues.
More importantly, he goes on to add: “We’ll go about our business, and it will be very clear, very swift. Our objective is to try to be ready with the new squad for the Club World Cup.”
He also suggested the flurry of activity this past January was not just atypical of the administration, but felt the squad fell into a crisis state with the number of injuries, insisting they “had to act.”
City have already been linked with a hugely talented and highly-rated European target in the wake of Kevin De Bruyne‘s departure and a lack of strength in depth in midfield.
An initial bid is said to have been received already and will likely be the first of many City summer signings.
He also insisted that the players who joined last season weren’t scattershot, emergency transfers (perhaps barring the resigning of İlkay Gündoğan) but were the start of the rebuild and “gives [fans] an idea of what’s coming this summer.”
Another player linked with a move to the Etihad Stadium is Lyon star Rayan Cherki, who scored in big moments during their Europa League run this year, registering 32 goal contributions across all competitions throughout the 24/25 campaign.
Who would you like to see added to Pep Guardiola’s side this summer, then, Man City fans?
You can watch Khaldoon Al Mubarak’s interview in full down below:
Danny Jones -
17th May 2023 
