Qatar's bid to buy Manchester United increased

Qatari banker Sheikh Jassim bin Hamad bin Jassim bin Jabor Al Thani has raised the value of his offer to buy Manchester United from the US family of Glazer, a source close to the acquisition file told AFP today. Sheikh Jassim is locked in a bidding war with British billionaire Jim Ratcliffe, after they emerged as major competitors to buy the Red Devils.

Ratcliffe appeared to be in the lead as the third round of bidding ended last month. The owner of Ineos Petrochemical Company has put a higher valuation on the club, which is reportedly looking to buy a majority of its stakes. But the move would allow club presidents Avram and Joel Glazer to retain a stake in the club, a move that United fans would never like. Otherwise, Sheikh Jassim is seeking to buy the entire stake of the club, promising to repay its $1.2 billion debt.

The Glaser family, who owned the club in 2005, appears determined to pay 6 billion pounds ($7.47 billion) to give their approval for the sale.
The United Fan Associations Association has called for the acquisition to speed up the acquisition process to allow new owners to contribute in the transfer summer.
United's results have declined in recent years under the Glazer family's ownership. The club have not won the league title since the departure of Scottish manager Sir Alex Ferguson a decade ago. But the Reds clinched their first title in six years, winning the League Cup in the first season of Dutch manager Erik ten Hag.