EXCLUSIVE: MANCHESTER UNITED NEGOTIATING EXCLUSIVELY WITH QATAR'S SHEIKH JASSIM IN $6 BILLION-PLUS SALE TALKS

English football club Manchester United (MANU.N) is negotiating granting exclusivity to the consortium led by Qatar's Sheikh Jassim bin Hamad al-Thani in the talks to sell itself for more than $6 billion, people familiar with the matter said on Thursday.

Members of the Glazer family, which own minority stakes in Manchester United and control it thanks to a dual-class share structure, would be cashing out as part of the proposed deal, one of the sources said.

The Qatari offer is currently viewed by the Glazers more favorably than a bid from British billionaire Jim Ratcliffe, founder of chemicals producer INEOS, the sources added. Ratcliffe's offer envisions that the Glazers would keep some interest in Manchester United.

MANCHESTER UNITED SHARES HIT TWO-MONTH HIGH ON SPECULATION OVER TAKEOVER BID

Reuters

Shares of Manchester United (MANU.N) jumped 13% to hit a two-month high on Tuesday after a report hinted that Qatar's Sheikh Jassim bin Hamad al-Thani was likely to succeed with his takeover bid for the English football club.

Qatar's Al-Watan newspaper reported on Tuesday that Sheikh Jassim, son of a former prime minister of the country, was poised to be announced as the preferred bidder of the Premier League soccer club, CNBC said.

MAN UTD TAKEOVER: THE GLAZERS REFURE TO FOLLOW NORMAL PROTOCOL RISKING QATAR BACKLASH

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Man Utd takeover: The Glazers risk Qatari backlash as the sale process nears its conclusion.

The Glazers don't plan to follow the standard procedure at the conclusion of the Manchester United takeover process, according to reports. And it risks Qatari backlash after Sheikh Jassim bin Hamad Al Thani set a strict deadline with his improved fifth bid earlier this week.

Reports state that leading bidders Sheikh Jassim and British billionaire Sir Jim Ratcliffe expect to learn the Glazers' sale decision in the coming days.

Ratcliffe has been considered the frontrunner due to his takeover bid allowing the Glazer family to retain a minority share in United.

However, it's said there is growing optimism in Qatar after Sheikh Jassim's fifth and final offer for a full sale rivalled the value of the INEOS top dog's approach.

An update claims that the Glazers don't plan to replicate the procedure the Raine Group took in the closing stages of Chelsea's final sale.

- Alex Turk

 

QATAR’S SHEIKH JASSIM SUBMITS FIFTH AND FINAL OFFER FOR MANCHESTER UNITED- REPORTS SAY

 

"Sheikh Jassim bin Hamad Al Thani has submitted an improved fifth and final bid to purchase Manchester United, according to reports.

The BBC and Press Association reported that Sheikh Jassim's latest offer is the last one and that he is looking for a definitive answer by this Friday."

 "The Qatari offer is said to be for 100 per cent of the club and the reports stated that Sheikh Jassim is ready to walk away from the process after Friday.

United had announced in November that the board was exploring strategic alternatives for the future, with a full sale one option being considered.

Sir Jim Ratcliffe's Ineos Group are the other main party looking to acquire the famous club. Current owners the Glazer family have apparently valued Manchester United at £6 billion.

Reports earlier suggested that Ratcliffe was ahead in the race to acquire the club, with the Ineos Group willing to take just the majority stakes and not the entire club.

Manchester United fans will be hoping for a quick resolution of the club's ownership as the team seem to have turned a corner this season.

Under new manager Erik ten Hag, United won the League Cup, finished third in the Premier League and fought valiantly in the FA Cup final defeat to Manchester City."

- The National