Qatari financier Sheikh Jassim Bin Hamad Al Thani is poised to finalize his acquisition of Manchester United by mid-October, following the acceptance of his £6 billion offer by the Glazer family.
Since the Glazers announced their intentions in November of the previous year to explore various strategic options, including a complete or partial sale of Manchester United, Sheikh Jassim has engaged in a fierce competition with INEOS billionaire Sir Jim Ratcliffe for control of the club. The Glazers had purchased Manchester United for £790 million in 2005, and their acceptance of this substantial offer represents a substantial profit on their initial investment. Initially inclined to retain a stake in the club, they were cautioned by prominent figures within the organization about the potential for fan opposition. Consequently, they have now agreed to transfer full ownership, relinquishing 100 percent of their shares.
If all goes as planned in October, it will mark the resolution of a year-long saga that commenced with the Glazers placing Manchester United on the market in November 2022.
The publication wrote;
“A date is pencilled in and an announcement [to declare Sheikh Jassim as the winner] could come as early as next month.
“Sheikh Jassim’s team are now completing their due diligence on the club before they end the 18-year reign of the loathed Glazers,
“The Glazers wanted to continue holding shares but were warned by senior Old Trafford figures there would be a huge backlash from the fanbase.”
In addition to completing their own due diligence, the Qatari team is expected to pass the Premier League’s Owners’ and Directors’ test, also known as the Fit and Proper Persons’ test before the deal can be wrapped up.
The deal will not be completed in time for Manchester United to invest in the transfer market before the window closes at the end of the month, but Sheikh Jassim does intend to upgrade both Old Trafford and the club’s Carrington training ground.