Manchester United’s takeover process is entering an eighth month, and Sheikh Jassim bin Hamad Al Thani has yet to discover whether his party’s bid is successful...CONTINUE READING THE FULL ARTICLE>>>
Sheikh Jassim bin Hamad Al Thani remains wary that the Glazer family could remain at Old Trafford rather than selling Manchester United this summer, it has been claimed.
The Qatari’s camp are still hopeful of completing a takeover, and are said to believe it is only a matter of time before a decision is announced.
Nearly eight months have passed since the Glazers first publicly announced they were entertaining the idea of selling up, and we are yet to reach a conclusion.
Sheikh Jassim has pledged a full takeover through his Nine Two Foundation, while INEOS chief Sir Jim Ratcliffe remains in the hunt. The Glazers still have the option of sticking around, though, with minority investment still on the table.
According to Bloomberg, Sheikh Jassim’s group remain confident of winning the race and have reportedly said as much privately. However, a last-minute u-turn from the current owners is not out of the question.
The publication acknowledges splits within the Glazer family, with some members favouring a sale and others keen to retain an interest. One source is said to have told Bloomberg the owners could yet make a late call to take on outside investment to help with work on Old Trafford as well as the club’s training facilities.
If successful with his bid, Sheikh Jassim has been tipped to delist the club from the New York Stock Exchange and take them private after more than a decade. United’s shares topped $25 when the exchange closed on Wednesday.
Earlier this month, Nine Two Holdings – named for United’s ‘Class of 92’ – was incorporated in the UK. Sheikh Jassim is listed as one of two directors, alongside Abdulrahman Al-Ansari, with a London address listed.
“The bid plans to return the club to its former glories both on and off the pitch and – above all – will seek to place the fans at the heart of Manchester United Football Club once more,” an initial February statement from the Qatari bidder read.
Since then, further bidders both entered and withdrew from the race without a definitive decision from Manchester United’s current ownership group.
“The bid will be completely debt free via Sheikh Jassim’s Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience, and communities the club supports.
“The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world. More details of the bid will be released, when appropriate, if and when the bid process develops.”
