Qatar’s Sheikh Jassim wins Manchester United takeover bid: Reports

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Sheikh Jassim’s team are now in the process of completing their due diligence for the takeover of Manchester United. An announcement could come as early as next week said reports in the British media.

The English Premier League club takeover will be completed by Qatar’s Sheikh Jassim for a price of around $7.6bn, as per reports in The Sun newspaper.

Sheikh Jassim’s bid has reportedly defeated British Billionaire Sir Jim Ratcliffe who was the other competitor for the Old Trafford club.

According to The Sun report, “a date is pencilled in and an announcement could come as early as next month”.

The takeover figure is un-verified as Sheikh Jassim’s final offer for the club stood at GBP5bn for 100 per cent of the club, according to a Bloomberg report in June.

Sheikh Jassim’s bid for Manchester United comes as GCC investors are significantly expanding their interest in football. GCC wealth funds or their subsidiaries now own five clubs, including Manchester City, whose owners have transformed into City Football Group.

Manchester United fans want Glazers out

The sale of Manchester United has been a long-drawn process with the current owners – the Glazers keeping quiet about the developments.

The Glazer family, which currently owns the club at Old Trafford, originally valued the club at GBP6bn after it went on the market. The Glazers had bought the club for GBP790m in 2005. Manchester United announced in November 2022 that its board was exploring strategic alternatives to enhance the club’s growth, with a full sale one option being considered.

Recent reports suggest they faced immense fan backlash over their reluctance to say goodbye to the club.