Qatar wins bid to Buy Manchester United- Report

Qatar's offer made by Sheikh Jassim bin Hamad Al Thani has won the race to acquire the shares and buy Manchester United Football Club. Sheikh Jassim had been locked in a bidding war with British billionaire Sir Jim Ratcliffe for control of ownership of the Premier League giants. The British newspaper "The Sun" reported that the Qatari offer won the race to buy Manchester United, as the deal will soon be officially announced. “The Sun” indicated that the last offer made by Sheikh Jassim related to buying 100% of the club’s shares, at a value of 5 billion pounds. While the financials have not been disclosed, UK media reports say Sheikh Jassim's final bid submitted on June 7 was £5 billion for total control of United.  The offer includes clearing a £1 billion debt and a fund solely for the club and surrounding community, according to an earlier report in The Guardian newspaper. Ratcliffe, the chief of the Ineos group and a boyhood United fan had wanted to purchase around 60 per cent of the club. His offer comes with a proposal that would allow the Glazers to remain for a set time period ahead of a sourced buyout. The Glazer family originally valued the club at £6 billion after it went on the market. It is reported that Manchester United's offer for sale dates back to last November.