Man Utd takeover update: Sheikh Jassim has changed his mind as new details come to light
It has been claimed that Sheikh Jassim is no longer in conflict with Sir Jim Ratcliffe over the purchase of Manchester United. The Qatari billionaire is the best placed to take over the club. However, with the Glazers still unclear on the situation, it will be interesting to see what happens.
According to journalist Ben Jacobs, Sheik Jassim believes Ratcliffe is not a favorite in the race.
Instead, the Qatari billionaire now feels only the Glazers stand in the way if he hopes to secure the buyout this summer. “And yet we have the same situation where the Nine Two Foundation and INEOS are in the process,” Jacobs told GiveMeSport.
“Perhaps the only difference at the moment is that there is a real feeling from Qatar that it will now be a success story, or a fail to sell, possibly with some form of financing incorporated.
“So rather than Qatar seeing this as them versus Ratcliffe, which was the story for much of the takeover, I think the Nine Two Foundation feels like it’s about being picked or the Glazers picking to a miss. sale of some form. ” funding, to market the club at a later date.
Ratcliffe was seen on pole position just a few weeks ago.
But that has changed since Sheikh Jassim made a fifth and final bid for the club.
Not much is known about the mysterious figure, who prefers to keep a low profile rather than be in the spotlight. Yet confidence is growing within the Qatari camp that sooner or later they will be United’s next owners.
They have pledged to make significant investments in the event of a takeover, with Sheikh Jassim believing the Glazers have underinvested in the club.
Old Trafford and the club’s Carrington training complex would both be refurbished under Qatari management.
And Sheikh Jassim is also willing to lend support to the transfer of Erik ten Hag
United are set to sign Mason Mount from Chelsea after agreeing a fee for the England international earlier this week.
However, Ten Hag know more reinforcements are needed if the club are to win their first Premier League title since 2013. Meanwhile, football financial analyst Viva Mukherjee has expressed his belief that Sheikh Jassim will drop United from the list if the bid is successful.
“I think Sheikh Jassim’s investment plan is very similar to that of Friedkin Group in Rome, but on a larger scale,” he said.
“The group bought an 86.6 per cent majority stake in AS Roma in 2020 for £510m, including £331m of debt from the previous owner.
“Similarly, Qatar’s offer includes the payment of £725m in gross debt to Old Trafford.
“The Friedkin Group needed 95 per cent of the capital to delist the Italian club – a stake Jassim would hold at Old Trafford if he were successful in winning the takeover. “I think Jassim will do the same and want to remove United from the list if he becomes the new owner.
“His bid for the club is valued at around $6.3bn (£4.95bn), with the majority of that fee to be paid to Glazers and club shareholders.”
“This is the opposite of Ratcliffe’s offer, where the club’s debt is likely to remain and the club could continue to be listed on the stock exchange.”
The Glazers have owned United since 2005 and since then the club have won five Premier League titles – but none since 2013.