The Manchester United takeover battle has been raging on for more than seven months now. Back in November 2022, the Glazer family which owns Manchester United announced that they are putting the club up for sale. However, the Glazers also announced that the club wouldn’t necessarily be sold to the highest bidder. Rather, they were looking to sell the club to the best owner.
In the crazy Manchester United takeover battle that has ensued for the past few months, two prospective buyers have emerged. On one hand, there is the British billionaire Sir Jim Ratcliffe, the richest man in Britain. On the other hand, there’s the Qatari prince Sheikh Mohammed bin Jassim bin Mohammed Al Thani. However, even after seven long months, the future of Manchester United is in the dark.
The Glazer family previously wanted to sell the controlling ownership of the club while they retained a 20% stake in United. However, they have appeared to reach a unanimous decision regarding the complete sale of the club. This decision has gone against Sir Ratcliffe and favored Sheikh Jassim’s interest. The Qatari prince has been stubborn with his decision of gaining complete ownership of the club from the beginning.
United’s share price is spiking after hours. Up nearly 20%. pic.twitter.com/RifBU79UYu
— United Peoples TV (@UnitedPeoplesTV) June 12, 2023
The Glazers have reportedly set the asking fee for Manchester United’s sale at $7.6 billion. As per Sky Sports, Sheikh Jassim has submitted a $6.3 billion bid, which is his fifth and final offer. He has also pledged to improve the infrastructure of the club and invest in Erik ten Hag‘s squad. Moreover, the reports of Sheikh Jassim getting closer to becoming the new owner of United have resulted in a 17% hike in the club’s share price.
Who’s Sheikh Jassim, Manchester United’s prospective buyer?
Sheikh Mohammed bin Jassim bin Mohammed Al Thani is in pole position to become Manchester United’s new owner. Born in 1982, Sheikh Jassim has always been a huge supporter of Manchester United. Moreover, the collective feeling of hatred from the United supporter towards the Glazers has also increased Sheikh Jassim’s popularity.
Sheikh Jassim is the chairman of the Qatar Islamic Bank (QIB), one of the biggest banks in the Middle East. Moreover, he is the owner of the Nine Two Foundation, which also has a reference to United. The company’s name is seemingly inspired by United’s iconic Class of 92 which featured several stars like Ryan Giggs, David Beckham, and Paul Scholes, as well as the legendary coach Sir Alex Ferguson.
🚨 BREAKING: Sheikh Jassim’s Nine Two UK Holdings Ltd. is officially a company in the UK, starting today.
It is happening. 🇶🇦⌛️ pic.twitter.com/u3mGxIsDRr
— UF (@UtdFaithfuls) June 15, 2023
Sheikh Jassim’s father, Hamad bin Jassim bin Jaber Al Thani, was the prime minister of Qatar from 2007 to 2013. Hamad bin Jassim also owns Paris Saint Germain. While Sheikh Jassim’s net worth is estimated to be around $1.3 billion, his family’s collective wealth is estimated to be around $335 billion. Moreover, QIB has been listed by Forbes as the third-most valuable company in Qatar.
