Last night Sheikh Jassim bin Hamad Al Thani submitted his latest offer for control of Manchester United.
Qatari bidder Sheikh Jassim submitted a new offer for Manchester United last night, in a battle to win the protracted takeover race.
Don’t expect a swift resolution. The process has dragged on since last November and this late offer could further push back a decision.
Working against his bid, is Sheikh Jassim’s relations with The Raine Group, overseeing the process.
Sheikh Jassim and The Raine Group
According to The Athletic, direct contact has been minimal between Sheikh Jassim and the banking firm overseeing the process.
The report states the, ‘lack of dialogue with Sheikh Jassim is regarded as notable by those involved’.
It further adds, ‘there has been a distinct lack of harmony in conversations involving Raine and Sheikh Jassim’s camp’.
This has been in relation to differing accounts released of figures relating to bids, while The Times reported they got off on the wrong foot.
The report claimed: “A statement from the Qatar bid in particular is understood to have caused consternation among those running the process, with the promise to return United to its “former glories” seen as implied criticism of the present owners.”
Investment plans may not appeal to Glazers
Another point where the parties may be failing to successfully tie together is Sheikh Jassim’s pledge to invest in the surrounding area around Old Trafford.
This is unlikely to hold much sway for the Glazers, whose focus is on two aspects, how much money they can get, and potentially staying on.
Investing in the area and community might be the right thing to do, but whether this is of any interest to the Glazers, remains to be seen.