Sheikh Jassim bin Hamad Al-Thani’s team say that reports suggesting the Qatari royal’s bid to buy Manchester United are ‘pure speculation. United’s owners the Glazer family are keeping bidders waiting for an answer following a lengthy takeover process.
Sheikh Jassim and fellow bidder Sir Jim Ratcliffe remain in the dark over who has won the battle to buy the Premier League club, or if there will even be a takeover at all. Ratcliffe was reportedly in ‘advanced talks’ with his proposal last week, which includes a controversial deal for Joel and Avram Glazer to remain as minority stakeholders until 2026.
The Qataris responded by launching an eye-watering £5billion offer last week, giving the Glazers and merchant bank Raine Group until Friday evening to make a decision. A response does not appear to have been given, with Sheikh Jassim’s offer remaining on the table.
Some reports earlier this week suggested that Sheikh Jassim’s bid had been successful. A Qatari media outlet claimed that he had even been congratulated by a businessman in the Middle East country, although the report now cites ‘international media’ as its source.
According to the Press Association, the position of Sheikh Jassim’s team is that such talk is ‘pure speculation’. The Qataris have reportedly not heard from the Glazers, nor Raine Group.
Sheikh Jassim’s offer is for 100 per-cent of the club, debt-free, and includes an extra £1billion kept aside to renovate Old Trafford and its surrounding area. Ratcliffe, whose bid has been made through his petrochemicals giant INEOS, wants an initial 60 per-cent of the club with two of the Glazer siblings remaining until 2026.
There remains some suggestion that the Glazers may opt to pull the plug on takeover talks altogether. With the price of football clubs likely to soar in the coming years, the siblings could choose to stay in full control.
That path, though, would not go down well among the majority of the United fanbase. Supporters have protested against the ownership of the Red Devils at home matches for the best part of two years.
