Sheikh Jassim bin Hamad Al Thani is already planning to make long overdue changes at Manchester United, with a view to completing his hotly-anticipated takeover by mid-October.
The Qatari banker, who’s closing in on a £6billion deal to buy the club, is believed to have beaten long-term rival Sir Jim Ratcliffe after a strenuous contest which began in November 2022 and seen multiple rounds of bidding amid fan protests. Sheikh Jassim has promised to buy 100 per cent of United and end the Glazer family’s deeply unpopular 18-year reign at Old Trafford.
Meanwhile, British billionaire and INEOS chief executive Ratcliffe had been working on a proposal which would see the Glazers continue to hold a stake in the club. According to The Sun, Sheikh Jassim has now come out on top and is conducting his final due diligence over United before signing off on a seismic deal which is set to shake world football.
With an announcement potentially coming as early as next month, the son of Qatar’s former prime minister will promptly wipe out the club’s gross debt which figures last showed to be at £725million. Unlike the Glazers, Sheikh Jassim won’t not take any dividend payments from United, one of supporters’ main gripes with the American family.
His Qatari entourage also plan to make renovations to both United’s home stadium, Old Trafford, and their training centre at Carrington. Sheikh Jassim will also invest in Erik ten Hag’s playing squad, hoping to fund their return to the top of European football with a slew of big-money transfers.
Back in February, the chairman of Qatar Islamic Bank outlined his proposal to supporters, many of whom harbour reservations over a state-backed takeover, despite their will see the Glazers ousted. “Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club,” he declared in a statement.
Leave a Reply