Blockbuster Manchester United Takeover: Sheikh Jassim Places Jaw-Dropping £5bn Bid, Sparking Intense Speculation over Glazer Family's Stance

Sheikh Jassim's desire to acquire Manchester United persists, with his £5bn offer for the club still on the table. However, insiders closely associated with the Qatari bid suspect that the progress has halted due to uncertainties regarding the Glazer family's willingness to sell.

Sheikh Jassim has submitted a total of five purchase proposals for United, with his most recent offer made on June 7, a debt-free deal to acquire the entire club.

British billionaire Jim Ratcliffe has also presented competing bids to acquire 69 percent of the club currently owned by the Glazer family, in a gradual takeover process.

Sheikh Jassim's bid team is aware of reports suggesting his proximity to the purchase of Manchester United. However, from their perspective, the situation remains unchanged. The Glazers disclosed their contemplation of selling the club in November last year.

In a statement, United said their owners would look at options to bring in new investment including "a sale or other transactions involving the company".

The Glazers acquired United through a controversial leveraged buyout in 2005, for a total of £790m. This transaction entailed borrowing over £500m and burdening the club with their debt.

Since then, United has faced the substantial cost of servicing this debt, which has exceeded £1bn. According to the club's most recent financial statements, their outstanding debt currently amounts to £725m.

Sir Jim and Sheikh Jassim made their initial offers known to the public in February. The third and final round of bidding ended on April 28. However, reports suggest that Ratcliffe and INEOS submitted a revised offer, placing them in the leading position to acquire United. In response, Sheikh Jassim decided to take action once again.

Sheikh Jassim is confident that his bid is highly competitive and will bring significant advantages to Manchester United. This includes the elimination of almost £1bn worth of club debt and the creation of a separate fund for the redevelopment of Old Trafford, the surrounding area, and the club's Carrington training ground.

Are the Glazers willing sellers?

Sheikh Jassim is eagerly awaiting a response from the Glazers, yet he has not received one. Nevertheless, his interest in the matter persists.

Numerous individuals involved in the proceedings hold the belief that there exists a lack of unanimous commitment within the Glazer family to sell the club. Different members hold differing opinions, with some inclined towards the idea of selling while others deem it untimely.

Reports surfaced today indicating that there was a possibility of Qataris acquiring Manchester United, much to their satisfaction. However, it seems that the Qataris remain skeptical as to whether the Glazers are actually interested in selling. In order for a deal to proceed, it requires both a willing buyer and a willing seller.

Sir Jim Ratcliffe has submitted several bids, expressing his interest solely in acquiring the 69% ownership held by the Glazer family. Additionally, there are other individuals interested in investing in the club.

The Glazers have numerous choices available to them, but it is important to note that they have never expressed their intention to sell Manchester United. In November, they stated their desire to seek new investments, which could potentially result in a sale, among other possible outcomes.

Many Manchester United fans are eager for a resolution to the takeover situation as soon as possible. They believe that it has been prolonged for an unnecessary amount of time. Initially, people anticipated it would be concluded before the transfer window opened, and later, before the start of the season.

"For whatever reason, it hasn't happened. Some Manchester United fans are disappointed and some are angry that it has taken so long. At the end of the day, the club belongs to the Glazers."