Sheikh Jassim and Sir Jim given more time to crack open their Man Utd piggy banks

ManUtd piggy bank

March 23 – Qatari banker Sheikh Jassim bin Hamad Al Thani and British billionaire Sir Jim Ratcliffe are reportedly set to submit new bids to buy Manchester United after a deadline was extended at their request.

Bidders were initially told they had until 21:00 GMT Wednesday night to submit second, revised bids.

But the BBC reports several other proposed investors made their submissions by that time though Ratcliffe and Sheikh Jassim are the only publicly declared bidders.

Apparently both parties asked American merchant bank Raine, which is conducting the sale from the controversial Glazer family, for more time.

Sheikh Jassim is chairman of Qatar Islamic Bank and the son of a former Qatari prime minister. He is aiming to take 100% ownership of United and is intent on investing in the club’s stadium and training facilities as well as wiping out debts.

United is expected to become the most expensive sports team in history, with the Glazers asking for up to $6b after announcing in November that they were exploring “strategic alternatives.”

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