Sheikh Jassim lines up new Manchester United bid but below Glazers’ valuation

Sheikh Jassim bin Hamad al-Thani is expected to lodge an improved third bid of less than £5bn for Manchester United by Friday’s 10pm BST deadline. The offer would be markedly less than the £6bn valuation of the club’s owners, the Glazers.

Sheikh Jassim, a Qatari banker, remains intent on purchasing 100% of the club but will not pay more than what he believes United are worth. The Guardian understands this is more than £1bn below the American family’s asking price.

Sir Jim Ratcliffe, the only other publicly declared buyer for a controlling interest, is thought to want to acquire a little more than 50%, leaving Joel and Avram Glazer with a 20% stake. Ratcliffe, one of Britain’s richest people, may have to borrow to complete that deal.

A third option may be that one or more of the Glazers retain their stake and take investment into the club, with Elliott Investment Management and the Carlyle Group interested in doing so.

The Raine Group, which is orchestrating the sale for the Glazers, has set the deadline in the hope of ending the protracted process in the coming weeks.