The NINE TWO Foundation, a Qatari consortium led by Sheikh Jassim Bin Hamad Al Thani, is prepared to overpay to assume full ownership of Manchester United, according to Sky Sports.
It emerged in November last year that the Glazers have put the Red Devils up for sale. The family is now edging closer to leaving Old Trafford after having had full ownership of the club for around 18 years.
Qatari banker Sheikh Jassim Bin Hamad Al Thani quickly emerged as a top candidate to buy Manchester United. A consortium led by him launched a foundation called NINE TWO, which is said to be a reference to the club’s Class of 92′, for the same purpose.
It was confirmed last month that the NINE TWO Foundation has tabled an official offer for the Old Trafford outfit. According to reports, the consortium’s initial bid was worth £4 billion.
The Glazers, though, reportedly believe the Premier League giants to be worth at least £6 billion. Their valuation had led to doubts about Sheikh Jassim’s proposed takeover of the club.
There were claims that the Qatari consortium will not overpay despite their keen interest in buying the Red Devils. However, they appear to have eased their stance after visiting the club midweek.
Sheikh Jassim sent a delegation on behalf of the NINE TWO Foundation to Old Trafford on Thursday (March 16). Following the meetings, they’re now considering making a second offer for the club.
According to the aforementioned source, NINE TWO is now prepared to pay over the odds to buy Manchester United. They’re expected to table a bid that’s closer to the Glazers’ valuation of £6 billion next week.
Sheikh Jassim will hope that such an offer would be enough to convince the Glazers to sanction the sale of the club.
Jim Ratcliffe remains in mix to buy Manchester United
Apart from the Qatari consortium, Sir Jim Ratcliffe also tabled a bid for Manchester United last month. In fact, the owner of the INEOS group was the first to publicly announce an offer for the club.
Like NINE TWO, INEOS also visited the Red Devils to meet the club management this week. Ratcliffe reportedly spent six hours at Old Trafford on Friday (March 17).
While the Brit’s initial amount is undisclosed, it seemingly fell short of the Glazers’ £6 billion valuation. INEOS is nevertheless considering returning with an improved offer next week. It remains to be seen who emerges victorious in the race to buy the Premier League giants.