Sheikh Jassim to take over Manchester United by mid-October?

Sheikh Jassim to take over Manchester United by mid-October?

QLNews
By QLNews

After a long wait, the race to be the new owner of legendary British football club Manchester United seems to be nearing an end.

Latest media reports suggest that Sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani, through his newly formed Nine Two Foundation, is very close to completely buying out the famous club.

Following a protracted fight with British multi-billionaire Sir Jim Ratcliffe’s Ineos group, media reports suggest that Sheikh Jassim will be the club’s new owner for around $7.6bn.

According to  reports in the UK, “A date is pencilled in and an announcement could come as early as next month.”

The Qatar investment team is completing due diligence and ironing out other details ahead of an expected October completion date.

While Ratcliffe’s bid was only for a portion of the club, with some control remaining with the Glazer family, Sheikh Jassim’s offer was for an outright 100% sale.

Senior figures at Old Trafford had warned the Glazers there would be a ‘huge backlash’ from supporters if they held on to any shares.

Fans of the famed club have been hoping for a takeover by Sheikh Jassim as he has promised to invest heavily into the squad as well as develop infrastructure around the club. Upgrades to the iconic Old Trafford Stadium and the surrounding areas have also been floated.

The Qatari banker’s team is currently completing due diligence on the club and a deal is likely around mid-October.

The Qatari bid will need to pass the Premier League’s Owners’ and Directors’ test before it can be signed off.

When do you think will the final deal be closed?

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