Sheikh Jassim is becoming more and more certain that Qatar’s offer to buy Manchester United will be accepted.
The penultimate offer for United was made last week by Sheikh Jassim bin Hamad al-Thani; the Raine Group, the investment company in charge of the sale of the team, has yet to select a preferred offer; and British billionaire Sir Jim Ratcliffe is also interested in taking control at Old Trafford.
90min was informed by sources that the Qatari campaign to purchase Manchester United under the leadership of Sheikh Jassim bin Hamad al-Thani is more confident than ever that a deal will be reached before British billionaire Sir Jim Ratcliffe.
In order to take control at Old Trafford, Sheikh Jassim established the Nine Two Foundation, and last week, a fifth and final offer of roughly £6 billion was made for the team. On Thursday, The Nine Two Foundation became a legally recognized company in the UK.
It is thought that the Qatari bid team’s most recent offer has progressed conversations with United and Raine Group, the investment firm in charge of the club’s sale, after the Qatari bid team had grown impatient with the recent deadlock in negotiations.
However, sources close to United have made it clear to 90min that talks with all interested parties are still going on. According to other sources, Sir Jim Ratcliffe’s INEOS business, which is also vying to acquire control of the club, is in negotiations to beat off Sheikh Jassim’s offer for a term of exclusivity.
Other Old Trafford sources have asserted that choosing a favored offer or winner could not even necessitate granting an exclusivity period.
In an interview with the Wall Street Journal, Sir Jim Ratcliffe discusses his decision not to overpay for United.
“How do you calculate the price of a painting? How is the cost of a house determined? Ratcliffe told the Wall Street Journal that the cost of construction or painting had nothing to do with it. You should refrain from paying outrageous costs for anything since you will later regret it, he advised.
The Glazer family’s announcement in November of last year that they were looking for investment into the club or an outright sale marked the most recent twist in Malcolm Glazer’s turbulent 18-year reign, which began in May 2005 when he purchased a 28.7% ownership stake in the club from John Magnier and J.P. McManus.
Even though Sir Alex Ferguson’s team continued to win trophies in his latter years in charge—five Premier League championships, three League Cups, and the Champions League victory he attained between 2005 and 2013—their ownership has been plagued by fan unrest.
United won four major championships altogether and spent more than £1 billion on players in the ten years that followed, but this excessive spending masks years of increasing debt and money draining from the squad.
