admin Sheikh Jassim bin Hamad al-Thani launched a final bid for United last week; no decision has yet been made about a preferred bidder by Raine Group, the investment bank handling the club’s sale; British billionaire Sir Jim Ratcliffe is also hoping to take control at Old Trafford.
Sheikh Jassim bin Hamad Al-Thani’s attempt to seize control of Qatar-based Manchester United looks increasingly confident of signing a deal ahead of British billionaire Sir Jim Ratcliffe deepening.
The Nine-Two Foundation, which was officially incorporated in England on Thursday, was set up by Sheikh Jassim with the sole purpose of taking over Old Trafford, and last week saw its fifth and final bid for the club raise about £10. was done in 6 billion.
Qatar’s bid team has been frustrated by the lack of progress in negotiations in recent weeks, but the bid is said to have facilitated talks between United and the investment bank Laing Group, which oversees the sale of the club.
Other reports suggest that Sheikh Jassim’s bid is being negotiated for a monopoly period ahead of Sir Jim Ratcliffe’s INEOS Group, which is also seeking control of the club. But a source close to United said it clarified that negotiations with all stakeholders are still ongoing. .
Other sources close to Old Trafford claim there may be no need for a preferred offer or exclusivity period before a winner is announced.
Sir Jim Ratcliffe speaking to the Wall Street Journal on refusing to overpay for United
Sir Jim Ratcliffe hopes to take over at Manchester United / Eric Alonso/GettyImages
“How do you decide the price of a painting? How do you decide the price of a house? It’s not related to how much it cost to build or how much it cost to paint,” Ratcliffe told the Wall Street Journal. “What you don’t want to do is pay stupid prices for things because then you regret it subsequently.”
“Our interest in that club would be purely in winning things.”
The Glaser family announced last November that they were considering investing in the club or selling it outright. It is the latest development in an 18-year turbulent reign that began in May 2005 with Malcolm Glaser’s purchase of 28 0.7% stakes from John. The club was bought by Magnier and JP. McManus.
The final years of Sir Alex Ferguson’s reign saw continued trophy success with five Premier League titles, three League Cups and a Champions League title, although his tenure was plagued by supporter protests. , a success the Scottish player enjoyed between 2005 and 2013.
In his ensuing decade, United won a total of four big trophies and spent more than £1 billion on the transfer market, but that extravagant spending left the club with debts that had ballooned over the years. Withdrawal from is concealed.
