According to report ‘Sheikh Jassim Nearing Man Utd Takeover a Year After Glazers’ Sale Offer’ Sheikh Jassim bin Hamad Al Thani is reportedly close to finalizing a takeover of Manchester United, nearly a year after the Glazers put the club up for sale.
The Qatari royal seems to have outpaced competitors like Sir Jim Ratcliffe and other minority investors, nearing a groundbreaking deal.
In November of the previous year, the Glazer family had announced a strategic review to explore alternative investment opportunities, including the potential sale of the club.
Since then, Sheikh Jassim and Sir Jim have emerged as the leading contenders for a majority stake in United, while several US hedge funds entered the competition for a minority investment.
However, the process has been delayed for eleven months, allegedly due to the Glazer siblings’ hesitance to sell, particularly from club co-chairmen Joel and Avram Glazer.
Sheikh Jassim is seeking complete ownership of United and has pledged to alleviate the club’s substantial debt and make investments across various areas, ranging from Erik ten Hag’s team to the renovation of Old Trafford and Carrington, as well as broader community and infrastructure initiatives.
Reportedly, Sheikh Jassim made a final bid of up to £5 billion in June, falling short of the Glazers’ inflated £6 billion asking price.
On the other hand, Sir Jim initially offered a comparable amount for the American family’s 67% stake but later revised his approach with a £1.5 billion bid for just a 25% stake. This revised strategy seemed to align more with the Glazers’ preferences for a phased takeover rather than a complete sale.
Nonetheless, Sheikh Jassim is reportedly close to securing victory in the bid to take control and usher in a new era at Old Trafford.
According to reports from Qatari outlet Alkass TV Sports, Sheikh Jassim is on the verge of completing the United takeover.
This follows earlier reports from The Sun in August, claiming that Sheikh Jassim’s Nine Two Foundation was confident in sealing a deal before November. The Sun also reported that a takeover by Sheikh Jassim was expected around mid-October, following due diligence and an agreement for £6 billion with the Glazers.
If this outcome materializes, an announcement regarding the sale of the Red Devils would be imminent. However, due to non-disclosure agreements signed by the club’s bidders, very little confirmed information has been made public since Sheikh Jassim and Ratcliffe announced their involvement earlier this year.
Nevertheless, whispers in Qatar and England strongly indicate that Sheikh Jassim is the driving force behind the scenes.
Facts To Know About Hamad bin Jassim bin Jaber Al Thani
Hamad bin Jassim bin Jaber Al Thani is a Qatari businessman and politician who served as Prime Minister and Foreign Minister of Qatar from 2007 to 2013. He is a member of the ruling Al Thani family and a cousin of the Emir of Qatar, Tamim bin Hamad Al Thani.
Here are some facts to know about Hamad bin Jassim bin Jaber Al Thani:
-
He was born in Doha, Qatar in 1959.
-
He studied at the Royal Military Academy Sandhurst in the United Kingdom.
-
He worked in Qatar Petroleum for 15 years before entering politics.
-
He was appointed Foreign Minister in 1992 and Prime Minister in 2007.
-
He oversaw Qatar’s rapid economic development during his time in office.
-
He is a major investor in the global economy, with stakes in companies such as Barclays, Sainsbury’s, and the London Stock Exchange.
-
He is a controversial figure, with some critics accusing him of corruption and authoritarianism.
Here are some additional facts about Hamad bin Jassim bin Jaber Al Thani:
-
He is known for his shrewd business acumen and his ability to build relationships with world leaders.
-
He is a strong supporter of the Palestinian cause and has been critical of Israeli policies.
-
He played a key role in Qatar’s bid to host the 2022 FIFA World Cup.
-
He is a patron of the arts and has supported a number of cultural initiatives in Qatar.
Hamad bin Jassim bin Jaber Al Thani is a complex and influential figure who has played a major role in Qatar’s recent history. He is a controversial figure, but there is no doubt that he has had a significant impact on his country and the world.
