Qatari consortium, led by Sheikh Jassim Bin Hamad Al Thani, may be willing to overpay to take full ownership of Manchester United, according to reports from Sky Sports. The Glazer family put the Red Devils up for sale in November 2021, having held full ownership of the club for 18 years. Sheikh Jassim emerged as a top candidate in the running to purchase Manchester United, and his consortium recently tabled an official offer for the old Trafford club that was initially valued at £4bn. Despite the Glazers’ belief that the club is worth £6bn, doubts have been cast on Sheikh Jassim’s proposed takeover of the club. However, the Qatari consortium is seemingly now prepared to pay more than the club’s worth to secure the purchase, and they may table a bid that’s closer to the Glazers’ valuation next week.
Important Details about Qatar consortium willing to overpay with second bid to buy Manchester United from Glazers –
– NINE TWO Foundation, a Qatari consortium led by Sheikh Jassim Bin Hamad Al Thani, is willing to overpay for full ownership of Manchester United.
– The Glazer family, who have owned the club for around 18 years, put the club up for sale in November 2021.
– Sheikh Jassim emerged as a top candidate to buy Manchester United and launched the NINE TWO Foundation for that purpose.
– The foundation has tabled an official offer worth £4 billion, but the Glazers reportedly value the club at £6 billion, causing doubts about the takeover.
– NINE TWO sent a delegation to Old Trafford and is now considering making a second offer closer to the Glazers’ valuation.
– Jim Ratcliffe, the owner of the INEOS group, also tabled a bid and spent six hours at Old Trafford.
– INEOS is considering returning with an improved offer.
– It is uncertain who will emerge victorious in the race to buy Manchester United.
Qatari Consortium Led by Sheikh Jassim Offers to Overpay for Manchester United
The Glazers have put Manchester United up for sale, and a Qatari consortium led by Sheikh Jassim Bin Hamad Al Thani is reportedly willing to pay an excessive amount to take full ownership of the club, as Sky Sports reports. The Glazer family has owned the club for almost 18 years but is now ready to leave Old Trafford.
The founder of NINE TWO, Sheikh Jassim Bin Hamad Al Thani – a Qatari banker – emerged as an interested party to buy Manchester United soon after the Glazers put the club up for sale in November last year. NINE TWO is a consortium with strong Qatari backing and has reached out to buy the club, and the consortium’s initial bid was approximately £4 billion, as confirmed last month.
However, the latest reports suggest that NINE TWO is willing to pay even more over the odds to purchase the club, with a bid expected to come in around the valuation of £6 billion, which the Glazers reportedly believe is the current value of the Premier League giants. According to sources, Sheikh Jassim remains hopeful that such an offer would persuade the Glazers to proceed with selling Manchester United.
Jim Ratcliffe Remains in Contention
Sir Jim Ratcliffe, the owner of the INEOS group, is also a potential buyer for Manchester United, and he reportedly submitted an offer for the club last month as the first to publicly announce an interest in taking over the club. Ratcliffe’s interest in the club remained intact and, like NINE TWO, he sent a delegation to meet with the club management this week. Ratcliffe reportedly spent six hours at Old Trafford on Friday (March 17).
Though the amount of his initial bid was undisclosed, sources suggest that it came in short of the Glazers’ £6 billion valuation. Nevertheless, INEOS remains keen and is reportedly considering returning with an improved offer next week. It remains to be seen which group will emerge victorious in the race to buy Manchester United.
The Glazers’ Decision
At this point, it is clear that the Glazers are ready to sell Manchester United, and the two interested parties – Sheikh Jassim’s NINE TWO and Sir Jim Ratcliffe’s INEOS – are vying to purchase the club. But it all comes down to the Glazers, who are looking to receive the highest amount possible in exchange for their stake in the premier club.
The Glazers have owned Manchester United since 2005, and over the years, they have often faced criticism from some of the club’s fans. This has resulted in protests against the Glazers, with fervent supporters campaigning for their removal from the club.
The Glazers bought Manchester United in a £790 million deal that included debt, with the family using the club’s profits to finance the acquisition. Their time at the helm of the club has brought significant success, with the team winning multiple Premier League titles and a Champions League trophy, but it has also coincided with significant debt.
It is not clear why the Glazers decided to sell the club, but it could potentially be related to the COVID-19 pandemic. Like many businesses, the pandemic has had an adverse impact on football clubs globally, and Manchester United has been no exception. With limited attendance and revenue streams, the club may have witnessed a dip in profits, which could have prompted the Glazers to focus on selling the club.
Manchester United’s Position
Manchester United is one of the most successful and widely recognized football clubs globally, and any potential sale will garner significant interest from supporters, stakeholders, and investors worldwide. As one of the most popular sports brands globally, Manchester United’s sale is likely to generate widespread media attention.
The club has been a source of pride for many over the years, and the potential sale could mark an era of significant change. However, if the Glazers intend to sell the club, there is little that the supporters or players can do to prevent it. Manchester United will continue to operate as usual, with the same management structure and leadership team in place.
The Future of Manchester United
The future of Manchester United remains uncertain, and it will depend on who emerges victorious in the race to purchase the club. Sheikh Jassim’s NINE TWO and Sir Jim Ratcliffe’s INEOS are currently the two most significant bidders, but there could be others, too.
At this juncture, the Glazers’ valuation of the club appears to be the deciding factor, and NINE TWO seems to be edging closer to it. However, the Glazers will have to weigh their options carefully to make the most of the sale.
As far as the club is concerned, Manchester United will retain its status as a global footballing brand. The club will continue to operate in the Premier League, and there is little chance of the team’s fortunes changing overnight.
In conclusion, the Glazers have put Manchester United up for sale, and it looks like Sheikh Jassim’s NINE TWO consortium and Sir Jim Ratcliffe’s INEOS group are the two leading contenders to purchase the club. NINE TWO appears to be edging closer to the Glazers’ £6 billion valuation, and it remains to be seen who will win the race to buy the club.
Manchester United’s sale could mark an era of significant change for the club, but it is unclear why the Glazers decided to sell the club. Regardless, there is little that the players or supporters can do to prevent it, and the club will continue to operate as usual.
Manchester United will remain one of the world’s leading football clubs, and any potential sale is likely to generate significant interest from stakeholders and investors worldwide. As interested parties prepare their next moves, the future of Manchester United is uncertain, and only time will tell what the future holds for this iconic football club.