SHEIKH JASSIM will not increase his £5billion bid to buy Manchester United despite renewed interest from Sir Jim Ratcliffe, according to reports.
Jassim, 64, is fronting a Qatari group’s attempt to purchase the Red Devils from the Glazer family.
Sheikh Jassim has bid £5billion for Manchester United
PASir Jim Ratcliffe is seeking a 25 per cent stake in Man Utd[/caption]
Earlier this week, reports emerged that Man Utd‘s owners are considering Ratcliffe’s £1.5bn offer for a 25 per cent stake in the club.
This would be the first part of a staged takeover.
But according to The Times, Jassim and the Qataris see Ratcliffe‘s offer as an attempt to force them into increasing their bid.
The Glazers are insistent their asking price remains £6bn for a complete buyout of the club.
However, Jassim is standing firm on his £5bn valuation.
This is due to numerous factors including Man Utd’s poor start to the season – which has seen them lose six games out of 10 in all competitions.
Another concerning part of the club is the £1bn debt.
And there are also serious renovations needed to both Old Trafford and the Carrington training ground.
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If Ratcliffe’s proposal is accepted, it means the Glazers will remain in control of the club.
This will be unpopular with many fans and ex-players who have loudly protested the Glazers‘ presence.
However, it could raise extra capital for transfers or for improvements to be made to a decaying Old Trafford.
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