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July 15, 2024
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Sheikh Jassim on the verge of completing Man United takeover

Sheikh Jassim to buy Manchester United

Sheikh Jassim bin Hamad Al Thani is reportedly close to completing the purchase of Manchester United, with an announcement expected ‘in the next few hours’.

The Glazers, who now own Manchester United, stated last November that they were willing to sell the club, and Sheikh Jassim has emerged as the favourite to execute a buyout alongside Sir Jim Ratcliffe.

Ratcliffe was regarded to be the obvious favourite last month, with the British tycoon perhaps being designated the club’s preferred bidder.

However, the situation has since shifted, with Sheikh Jassim now firmly in charge, as the Qatari financier tries to complete a 100% acquisition.

According to Al Raya, the Glazer family could sign the acquisition contract ‘within the next few hours,’ with Sheikh Jassim’s representatives feeling that a deal is almost complete, bringing the drama to a finish.

The entire cost of the agreement to buy Manchester United could reportedly approach £6 billion, which is the sum that the Glazers have been aiming for since last November.

Ratcliffe is reported to be searching for a majority share at present, with a full acquisition of the club possible after three years.

The structure of Ratcliffe’s bid would appear to have allowed the Glazers to remain at Old Trafford as minority shareholders, which was reportedly preferred by at least two of the siblings.

Sheikh Jassim, on the other hand, is trying to execute a full 100% takeover, and the Qatari has stated that he is willing to make additional monies available to upgrade Old Trafford and the club’s Carrington training centre.

Man United are continuing to forge ahead with their summer ambitions, with Chelsea’s Mason Mount on the approach of completing a move after passing a medical.

Mount has previously stated that he would leave Chelsea this summer, and he is expected to be Man United’s first signing of the summer transfer window.

According to a recent estimate, there may only be £65 million left in the budget to buy a new goalkeeper and center-forward, but Sheikh Jassim’s arrival may enhance the amount of money available for transfers.

Last season, Manchester United won their first trophy in six years, collecting the EFL Cup at the end of February, and they will be back in the Champions League next season after placing third in the 2022-23 Premier League table.

Former Manchester United captain Rio Ferdinand recently stated that he believes Sheikh Jassim would become the club’s new owner in the near future.

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