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Qataris bid over £5bn for United

The Qatari group hoping to become the new owners of Manchester United have made an improved bid that if accepted would break the £5 billion barrier for a sports franchise. Sir Jim Ratcliffe also submitted his latest bid before the deadline.

Third and final bids for the Premier League club had to be submitted by 10pm on Friday and the offer tabled by Sheikh Jassim bin Hamad al-Thani was a small increase on their previous bid. As part of their submission, they pledged to remove all of the club’s debt and invest heavily in the club’s infrastructure and transfer budget.

Insiders insisted it took the price a fraction over £5 billion. The Glazer family value the club at nearer to £6 billion.

But the increase reflects not only Sheikh Jassim’s desire to win the battle for ownership but is also a response to the news, reported in The Times this week, that the main rivals to the Qataris are proposing a deal that would enable Avram and Joel Glazer to retain a stake.

Sources close to the Qataris would argue a 100 per cent buyout is far more straightforward, while also stressing that, even now, Sheikh Jassim is not prepared to overpay. A deal struck just beyond £5 billion would be a world record for a sports team. Bidding only continued to Friday night’s third round because nobody has yet been prepared to meet the Glazers’ £6 billion valuation.

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